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An important body of literature explores the political economy reasons underlying delays in macroeconomic stabilization. This paper develops a framework to analyze conflict between two groups of economic actors, one that has an endowment of internationally tradable goods and another that is...
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This note develops an econometric model of inflation dynamics to assess recent developments. We find that most of the … Fed's monetary policy. If high markups unleash important competitive pressures across firms, then inflation and thus …-perhaps motivated by attempts by workers to recover previous shortfalls in earnings-inflation and interest rates could stay high for a …
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