The authors of this paper formulate a disequilibrium AS-AD model based on sticky wages and prices, perfect foresight of current inflation rates and adaptive expectations concerning the inflation climate in which the economy operates. The model consists of a wage and a price Phillips curves, a...

Preface Introduction Explicit Representation and Feedback Structure of the Core 18D Dynamical System Numerical Simulations of the Real Part of 18D Dynamics Adding Policy Issues to the Real Dynamics Adding Asset Price Dynamics to the Real Dynamics Numerical Investigations of the Full 18D...