inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …

compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is … steered to uses they are keen to avoid. -- competitiveness ; inflation ; realignment ; Keynesian policy …

The standard loss function counts both positive and negative deviations from the output and inflation targets as losses …. But if the sample period is long enough, then output growth in excess of the target, and often also inflation rates that …

We study the link between expected inflation and wages using novel panel data from German firms and employees. We find … that pass-through—the percentage point change in wage growth given a one percentage point change in expected inflation … margin, expected inflation has little effect on additional wage negotiations. …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …