offers a consistent framework that ties together wage growth, inflation expectations and price inflation. It is used to study … the surge and persistence of inflation in the post-pandemic period in Belgium. According to the model, a sequence of … inflation in this period. Though the Belgian replication of the model predicts sensitive short-term inflation expectations to …

Developing country inflation is in the headlines again. Mainstream macroeconomics typically ignores the role of … monetary sources of inflation in the presence of real wage resistance and distributional conflict. The analysis shows that the … relatively small shock leads to sustained and accelerating inflation and a wage-price spiral, thanks to conflicting claims on …

is subsequently shown that variations in trend inflation significantly explain variations in the degree of wage …

past inflation during the Great Inflation but not during the Great Moderation. However, most DSGE models assume fixed … monetary policy. We find that workers index their wages to past inflation when technology and permanent inflation-target shocks … drive output fluctuations; when aggregate demand shocks do, workers index to trend-inflation. In addition, workers' choices …

inflation, a finding that is at odds with the assumption of constant indexation parameters in most New-Keynesian DSGE models. We … response to aggregate shocks and monetary policy. We show that workers index wages to past inflation when output fluctuations … are primarily explained by technology and permanent inflation-target shocks, whereas they index to trend inflation when …