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 …

stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … to be cut, workers stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …

We present new empirical evidence for the US economy that inflation reduces the inequality of the earnings distribution … higher inflation on income distribution is shown to be rather small. However, we find that a longer duration between two …

The effect of a permanent change of inflation on the distribution of wealth is analyzed in a general equilibrium OLG … of inflation results in a lower stock market participation rate; in addition, the distribution of wealth becomes more … anticipated inflation are considerably lower than in Imrohoroglu (1992). …