The dominant view of inflation holds that it is macroeconomic in origin and must always be tackled with macroeconomic … tightening. In contrast, we argue that the US COVID-19 inflation is predominantly a sellers' inflation that derives from … trying to fend off real wage declines in the conflict stage. We argue that such sellers' inflation generates a general price …

absent when no such factors are present, and (ii) correlated with more lenient monetary policy inputs and greater inflation …. These findings indicate that profitability concerns, while absent from standard theoretical models of central banking, are …

Im Rahmen eines monetären kaleckianischen Verteilungs- und Wachstumsmodells mit Konflikt-Inflation wird in dieser … Arbeit die Rolle einer Non-Accelerating-Inflation-Rate-of-Unemployment (NAIRU) analysiert. Die kurzfristige Stabilität der … ergeben. Anstelle des nachträglichen Einsatzes der Geldpolitik zur Bekämpfung von Inflation sollten daher die Ursachen von …

. Since inflation in our model is driven by distribution conflict, the "normal rate" of utilisation is associated with … consistent claims of firms and employees. Taking into account real debt effects of changes in inflation and distribution effects … Inflation in unserem Modell durch Verteilungskonflikte verursacht wird, ist der normale Auslastungsgrad durch miteinander …

stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … to be cut, workers stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …