relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative …. The shape of the post-crisis Phillips Curve expresses the theoretical assumption that the inflation rate stays below its …

Central bankers are raising interest rates on the assumption that wage-push inflation may lead to stagflation. This is … to maintain their real wages by reducing labor demand still further. Furthermore, we argue inflationary pressures have …

Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive … treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

wage formation and inflation is used to illustrate this argument. …

A model of nominal labor-price dynamics is derived from the choice of an efficient strategy to adjust wages for … inflation. The model, named the rational-arrangements Phillips curve, identifies a central role for catch-up to price inflation … that has already occurred and a more latent role for rational expectations of future inflation. The reinterpreted Phillips …

. Latvia stands out as having had the quickest adjustment in wages. By contrast, before the crisis, Greek wages appeared to … wages to unemployment in Greece was under the program similar to that observed in Germany and Portugal (a case, which has …

Program. Latvia stands out as having had the quickest adjustment in wages. By contrast, before the crisis, Greek wages … reaction of wages to unemployment in Greece under the program was increasingly similar to that observed in Germany and Portugal …

particular cases. We show that a contract length of about six quarters fits best the observed cyclical properties of wages and …