In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …

found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …

constant inflation. This change has been more pronounced than elsewhere. We argue that this stems from the immigration boom in … 1995 would have led to an annual increase in inflation of 2.5 percentage points if it had not been largely offset by …

linked to the monetary policy regime. Before and after the "Great Inflation", nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the "Great Inflation … as well as real and nominal wages. The results indicate considerable time variation in U.S. wage dynamics that can be …

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel's Law may hold during …

, high-wage workers are replaced by young low-wage workers. DNWR may also lead to a positive growth in aggregate wages … because of changes in relative wages. We explore industry data for 19 OECD countries, over the period 1971–2006. We find … legislation, high union density, centralised wage setting and high inflation. …

found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …

indexation to past inflation to vary according to the monetary policy regime. We find that the extent of wage indexation is … significantly lower in an inflation targeting regime, in contrast to monetary targeting, exchange rate targeting and policy regimes …

% lower past average wages and hired workers with 16% lower past average wages. Conditional upon bargaining, workers hired by …