; and, when prices and wages are not reoptimized, they can be partially adjusted to previous-period aggregate inflation. The …This paper analyzes the dynamics of prices and wages using a limited information approach to estimation. I estimate a … two-equation model for the determination of prices and wages derived from an optimization-based dynamic model in which …

root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …

root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. …

We specify an empirical model of US inflation which has the dynamics of wage and price setting at its core. In the … studies of pandemic-era inflation have confirmed that shocks to energy prices were important, but have not included imported … inflation more broadly. Estimation and simulation results indicate that wage growth was strongly affected early in the pandemic …

Inflation targeting was adopted by several countries, including Sweden, in the 1990s. We evaluate the Swedish inflation …, we find that the inflation targeting regime of 1995?2008 stands out as an exceptionally stable policy regime as judged by …, inflation targeting gained instant credibility in the sense that the labor market organizations entered long-term wage …

We evaluate the Swedish inflation targeting regime adopted in 1993−1995 using a novel approach based on a unique data … set on the characteristics of collective wage agreements between 1908 and 2008. We find that the inflation targeting …-makers to repeatedly commit to three-year non-indexed wage agreements. Inflation targeting gained instant credibility in the …

It has been well established that the wages of individual workers react little, especially downwards, to shocks that … that is consistent with related theoretical models (e.g. efficiency wage theory, insider-outsider theory). We also find …

individual wages covering the entire economy over the period from January 2001 to January 2007. After limiting for measurement …

It has been well established that the wages of individual workers react little, especially downwards, to shocks that … that is consistent with related theoretical models (e.g. efficiency wage theory, insider-outsider theory). We also find …

This paper provides an empirical investigation into the determinants and stability of the aggregate wage inflation … process in the United States over the 1967-2000 period. Using compensation per hour as the measure of wages, we specify a … Phillips curve model that links wage growth to its past values as well as to the unemployment rate, price inflation, labor …