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inventory management techniques. Drawing from Post-Keynesian and structuralist theories of inflation, this paper uses a vector …Several explanations of the great inflation moderation (1982-2006) have been put forth, the most popular being that … inflation was tamed due to good monetary policy, good luck (exogenous shocks such as oil prices), or structural changes such as …
Persistent link: https://www.econbiz.de/10010318622
to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …
Persistent link: https://www.econbiz.de/10011545308
model presents a 'price rule' for government spending that ensures that the ELR is not a source of inflation. Indeed, the …
Persistent link: https://www.econbiz.de/10010286518
The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10010314657
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012818360
We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …
Persistent link: https://www.econbiz.de/10012705285
Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …
Persistent link: https://www.econbiz.de/10014000446
The post-pandemic surge in inflation was accompanied by a surge in the corporate share of profits. As a result, several … economists and policy makers have given to it names such as "profit-led inflation" or "sellers' inflation." The present paper … discusses the extent to which profit-led inflation, as an explanation for the recent surge in inflation, is compatible with what …
Persistent link: https://www.econbiz.de/10014474483
Using the model proposed in Krugman and Taylor's "Contractionary effects of devaluation" (1978), we examine what macroeconomic effects of shocks to foreign prices. We show that these shocks can be contractionary for two reasons: (i) because they imply a loss of income if an economy has a trade...
Persistent link: https://www.econbiz.de/10014474508
wage formation and inflation is used to illustrate this argument. …
Persistent link: https://www.econbiz.de/10014480417