2015
DOI: 10.1057/eej.2014.19
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The Great Inflation: The Rebirth of Modern Central Banking

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“…The role of the labour market or business cycle position, proxied by unemployment rate is recognized by Staehr (2010) and Kalimeris (2011) as relevant inflationary determinants, while Agayev (2012) and Deniz, Tekce and Yilmaz (2016) point out the wage -inflation relationship. Similarly, Blanchard and Gali (2007) and Blinder and Rudd (2008) discuss how growing wage flexibility reduces persistence and pass through of the effect of external shocks on domestic inflation.…”
mentioning
confidence: 99%
“…The role of the labour market or business cycle position, proxied by unemployment rate is recognized by Staehr (2010) and Kalimeris (2011) as relevant inflationary determinants, while Agayev (2012) and Deniz, Tekce and Yilmaz (2016) point out the wage -inflation relationship. Similarly, Blanchard and Gali (2007) and Blinder and Rudd (2008) discuss how growing wage flexibility reduces persistence and pass through of the effect of external shocks on domestic inflation.…”
mentioning
confidence: 99%