This note develops an econometric model of inflation dynamics to assess recent developments. We find that most of the … between wages and prices. A consideration that could loom large is the shortfall in wage gains relative to their pre … Fed's monetary policy. If high markups unleash important competitive pressures across firms, then inflation and thus …

the downward pressure on wages and led to rising income inequality. Many German economists welcomed this effect, because … they consider lower wages and higher wage dispersion major prerequisites for stronger employment growth. The theoretical …

We study the output costs of a reduction in monetary growth in a dynamic general equilibrium model with staggered wages …

We study the output costs of a reduction in monetary growth in a dynamic general equilibrium model with staggered wages …

contracts specify forward-looking wage indexation. Compared with contracts specifying backward-looking wage indexation or wages … based on static expectations, such contracts will result in a greater reduction in inflation with lower output costs …, smaller misalignment of real wages, smaller outflows of reserves, smaller disruptions caused by policy announcements, and a …

, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays …, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises … and redesigned its stabilization program to bring inflation down more gradually. This collection analyzes the nature of …