capitalism arise because of large external shocks. The combination of these shocks and the slow adjustments of wages and prices … richer macroeconomic dynamic that provides for a better understanding of fluctuations in output and inflation. De Grauwe …

capitalism arise because of large external shocks. The combination of these shocks and the slow adjustments of wages and prices … richer macroeconomic dynamic that provides for a better understanding of fluctuations in output and inflation. De Grauwe …

the special case in which prices are sticky and wages are perfectly flexible. When the model is calibrated to exhibit an …We demonstrate the existence of a monetary policy tradeoff between price-inflation variability and output … empirically reasonable degree of nominal wage inertia, strict inflation targeting induces substantial output-gap volatility. …

long-run relationship between inflation and the markup is present across the sectors as well as in the aggregate. A … preliminary explanation based on indutry structure is explored for the relative sizes of the impact of inflation on the markup in …

exercised a counter-inflationary leadership role in the 1980s. Evidence is provided that expectations of German inflation may be … thought of as having impacted more strongly on expectations of inflation in other EMS countries in the EMS period than on non …-EMS countries (the UK) and in earlier periods. Co-integration tests show inflation rates in partner EMS member countries to be …

values of commodity baskets and a mason�s daily wage: 1331-1570 (no. of days� wages to buy one cloth); (8) Prices of … composite price index; and the no. of days� wages for a master mason to buy one Mechelen broadcloth, 1351-1520; (11) Prices of … mason's daily wages; (12) Purchase prices of Ghent woollens: by rank order of values, 1360-69: in pounds groot Flemish …

This paper reports on research into the negative relationship between inflation and the markup. It is argued that this … relationship can be thought of as ‘long-run’ in nature which suggests that inflation has a persistent effect on the markup and …, therefore, the real wage. A ‘rule of thumb’ from the estimates indicate that a 10 percentage point increase in inflation (as …

Prices in Russia have been decontrolled in several steps since early 1991, after decades of near-fixity. Their behavior … before and after the January 1992 price liberalization is analyzed here, as are the associated movements of wages and overall …