sense that it understands and observes the process by which private sector inflation expectations are generated, and one in … which the central bank has to learn the private sector inflation forecasting rule.Here, the learning scheme we investigate … accommodates private sector inflation expectations) is no longer constant across the disinflation, but becomes state …

pact corrects the average debt bias, inflation, which is attuned to the union-average debt level, is more stable. …

inflation-reduction policy. The central idea is that the decision about membership in the union leads to a redistribution …. For example, if joining the union means a decrease in the inflation rate, creditors should favor joining while debtors … should be against it. A government of a high inflation country might strategically try to exploit this effect by selling more …

inflation, in a framework in which unions are averse to inflation. This aversion moderates unions wage demands as they attempt … decrease in the number of unions) triggers two opposite effects on real wages, unemployment and inflation. It reduces the …, unemployment and inflation. For sufficiently inflation averse unions the interaction between those two effects produces a Calmfors …