The dominant view of inflation holds that it is macroeconomic in origin and must always be tackled with macroeconomic … tightening. In contrast, we argue that the US COVID-19 inflation is predominantly a sellers' inflation that derives from … trying to fend off real wage declines in the conflict stage. We argue that such sellers' inflation generates a general price …

Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this …

's (SARB) policy reaction rule. We find that the SARB has a stable rule very much in line with those estimated for Canada, UK … stable with a consistent anti inflation bias, a somewhat larger weight on output and a very low weight on the exchange rate …

dramatic transformations in the past century. While Classical economists advanced the hypothesis that inequality is beneficial … two decades. Theory and subsequent empirical evidence have demonstrated that income distribution has a significant impact …

Using frequency domain techniques to separate short and long run dynamics and decomposing inflation into its common and … idiosyncratic components, we study the regime dependence of the inflation-RPV relation in Argentina and the USA. Under High … inflation, strong long-run comovement between RPV and Inflation is found for both economies, that extends to the short run …

-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice. …

We analyze empirical links between the perceived tail-risk of inflation, the policy rate, longer-term interest rates … always in reaction to Fed announcements; and, (v) our impulse responses demonstrate that odds of extreme inflation outcomes …

inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an … inflation target are tempted to act time-inconsistently and switch from the announced inflation target to an exchange rate … target in order to sustain higher output via surprise inflation. If market participants discover the time-inconsistency, they …

There is a growing body of literature investigating if and how monetary policy impacts income inequality. Labor unions … are generally found to mitigate income inequality and recent literature highlights that changing labor market structures … of monetary shocks on income inequality in the United States over the period 1970-2008, and the channels this effect runs …