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inventory management techniques. Drawing from Post-Keynesian and structuralist theories of inflation, this paper uses a vector …Several explanations of the great inflation moderation (1982-2006) have been put forth, the most popular being that … inflation was tamed due to good monetary policy, good luck (exogenous shocks such as oil prices), or structural changes such as …
Persistent link: https://www.econbiz.de/10010318622
fraction of price changes increases with inflation. In addition, in the presence of strategic complementarities, they predict …
Persistent link: https://www.econbiz.de/10015189257
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
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
Using the model proposed in Krugman and Taylor's "Contractionary effects of devaluation" (1978), we examine what macroeconomic effects of shocks to foreign prices. We show that these shocks can be contractionary for two reasons: (i) because they imply a loss of income if an economy has a trade...
Persistent link: https://www.econbiz.de/10014474508
wage formation and inflation is used to illustrate this argument. …
Persistent link: https://www.econbiz.de/10014480417
The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10010314657
generate substantial inflation. Such a shock induces an equilibrium decline in the relative price of services. If price … increase in goods prices, resulting in, on net, little inflation. If prices in the services sector are downwardly rigid …, however, this takes place mostly through an increase in goods prices, resulting in inflation. To illustrate the relevance of …
Persistent link: https://www.econbiz.de/10014581741
increase according to trends in productivity and the target inflation rate of the central bank. Wage developments without …
Persistent link: https://www.econbiz.de/10014584238
The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two … demand, growth, trade balance, and inflation are generally ambiguous and highly contingent on the parameter constellation of …
Persistent link: https://www.econbiz.de/10015051013