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precautionary saving is strong enough, a rise in uncertainty leads to i) a drop in inflation; ii) amplified negative responses of …
Persistent link: https://www.econbiz.de/10012497747
We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …
Persistent link: https://www.econbiz.de/10012705285
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012818360
Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …
Persistent link: https://www.econbiz.de/10014000446
' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …
Persistent link: https://www.econbiz.de/10014278530
We develop a theory of labor markets in a monetary economy with four realistic features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Due to the non-Coasean nature of labor contracts, inefficient job separations occur in the form of endogenous...
Persistent link: https://www.econbiz.de/10014296865
do not force a central bank to tolerate higher inflation, but may generate a tradeoff between the central bank …'s objectives for inflation and real activity. The presence and size of this tradeoff depends on how flexible prices are in the …
Persistent link: https://www.econbiz.de/10014302775
increase in inflation in the US and elsewhere. Much has been made of this outcomes, and the economic distress associated with … it, in popular discussion of the economy. This paper provides a Kaleckian conflicting-claims analysis of inflation during …-setting behaviour as sources of inflationary pressure. A key conclusion that arises from the co-determination of inflation and …
Persistent link: https://www.econbiz.de/10014329443
the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor …
Persistent link: https://www.econbiz.de/10014363113
The post-pandemic surge in inflation was accompanied by a surge in the corporate share of profits. As a result, several … economists and policy makers have given to it names such as "profit-led inflation" or "sellers' inflation." The present paper … discusses the extent to which profit-led inflation, as an explanation for the recent surge in inflation, is compatible with what …
Persistent link: https://www.econbiz.de/10014474483