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In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative wage gap, meaning the cumulative gap between the current wage and a maximum peak wage value in the past. In a crisis, people relate to their peak gains in the immediate past....
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Reaktion der Geldpolitik abhängt. Der Hysteresegrad wird in der empirischen Untersuchung durch die geldpolitische Reaktion und …
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