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 …

economists to engage with Phillips’ famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They … formulated the firstunemployment/price-inflation version of the Phillips curve and were the first to interpret the Phillips curve … reconstruction and assessment of their original formulation, documenting the close relationship between the wage-inflation and price-inflation …

In command economies, inflation is either absent or at least unrelated to supply and demand. However, when the … economies in Eastern Europe started transforming into market economies, they suddenly experienced high and volatile inflation … rates. Transformation countries are therefore interesting laboratories for studying individual inflation aversion. In this …

of the two. We compare the accounting definition of deficit with the economic definition which takes inflation into …

optimise. Under discretionary monetary policy the size of the inflation bias depends on the fiscal policy regime. Using the … with the alternative fiscal policy rules, and inflation and output persistence reflects the economic data. With the deficit …

This paper examines the relationship between cyclical output and inflation in models commonly used for monetary policy … finding is that these models imply a strong negative relationship between inflation and output, a result that is at odds with …