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; unemployment ; wages …
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; unemployment ; wages …
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We use a simple macroeconomic model proposed by Bernanke and Blanchard (2023) to investigate the reasons for the recent sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly been caused by commodity price shocks and supply...
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advanced Europe, where wages are more closely related to inflation and inflation expectations in the short run, implying …
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