The sticky-price theory has proved fairly successful in explaining the dynamic effects of technology shocks on … of labor market variables, including employment as well as real wages and nominal wages, the sticky-price theory cannot …

strengthens the gains from make-up strategies relative to inflation targeting, especially if policy space is reduced. This result … permanent scars on long-run aggregate supply. Make-up strategies not only foster the alignment of inflation with target but also … inherent make-up element is sufficiently pronounced. Inflation is less responsive to monetary policy due to the interaction …

strengthens the gains from make-up strategies relative to inflation targeting, especially if policy space is reduced. This result … permanent scars on long-run aggregate supply. Make-up strategies not only foster the alignment of inflation with target but also … inherent make-up element is sufficiently pronounced. Inflation is less responsive to monetary policy due to the interaction …

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 … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

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 … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …