stabilization policy is pronounced. The wealth rich or retired tend to favor inflation targeting. The wealth-poor working class …, instead, favors unemployment-centric policy. One- and two-agent alternatives can show unanimous disapproval of inflation …-centric policy, instead. We highlight how the political support for inflation-centric policy depends on wage setting, the tax system …

more weight on alternative indicators of inflation pressure such as wage settlements, trends in unit labour costs and a … wide range of indicators of inflation expectations. The recent fall in margins observed in some countries may, for instance … States, the large unemployment gap could also keep wage inflation under pressure despite a flattening Phillips curve. These …

constant money growth or zero inflation policies …

stronger upward nominal pricing bias in recessions than in expansions, because recessions imply higher inflation volatility and …