degree of wage indexation is effective in lowering inflation if nominal wages do not provide, on average, full protection … behavior, the fiscal deficit, inflation and the capital stock. Wage controls have been widely advocated as a response to the … capital decumulation and reduce inflation, since wage moderation implies higher government revenues from the profit tax and …

It is widely feared that, once prices are decontrolled in the formerly centrally–planned economies, households’ release … monetary overhang can precipitate a large initial real wage shock. To the extent such a shock is not feasible politically …

nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage …

implications of, rising wage inequality in Hong Kong SAR. Section VII presents an overview of recent developments in the financial …

, and inflation. The authors develop a framework that emphasizes the different roles of monetary and fiscal policy and apply …

) has been to raise inflation targets to provide more room for policy rate easing during crises. This paper addresses a … different issue: the relationship between inflation and welfare. The literature is surveyed and a model is developed. A key … conclusion is that an increase in inflation targets gives rise to additional welfare costs, even after the extra room to maneuver …