wage inflation
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2021 ◽  
Vol 4 (3) ◽  
Author(s):  
Omer Allagabo Omer Mustafa

The relationship between wage inflation and unemployment (Phillips Curve) is controversial in economic thought, and the controversy is centered around whether there is always a trade-off or not. If this relationship is negative it is called The short-run Fillips Curve. However, in the long run, this relationship may probable not exist. The matter of how inflation and unemployment influence economic growth, is debatably among macroeconomic policymakers. This study examines the behavior of the Phillips Curve in Sudan and its effect on economic growth.


Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 34
Author(s):  
Adhitya Wardhono ◽  
M. Abd. Nasir ◽  
Ciplis Gema Qori’ah ◽  
Yulia Indrawati

The development of the theory of dynamic inflation begins by linking wage inflation and unemployment. In further developments, factor of expectation is classified into inflation model. The study used inflation data is important for ASEAN, because ASEAN is one of the strengths of the international economy. This study analyzes the dynamics of inflation in the ASEAN using framework the New-Keynesian Phillips Curve (NKPC) model. The data used is the quarterly panel data from 5 ASEAN members in the period 2005.QI–2018.QIV. The study of this dynamic inflation applies quarter to quarter inflation data, meaning that the inflation rate is the percentage change in the general price of the current quarter compared to last quarter general price divided by the last quarter. The empirical results are estimated by using the Generalized Method of Moment (GMM), both of the system and first different indicates that the pattern formation of inflation expectations are backward-looking and forward-looking. In addition, the estimated NKPC models show the backward-looking behavior is more dominant than the forward looking. Changes in inflation are not entirely influenced by expectations of inflation in each country. Changes in inflation are also influenced by the output gap, changes in money supply, and exchange rate. Based on the findings of this study, it can be concluded that the NKPC models can explain the dynamics of inflation in each country in the ASEAN region.


2020 ◽  
pp. 1-26
Author(s):  
Ronald W. Schatz

In January 1942, President Roosevelt set up the National War Labor Board to reduce strikes, control wage inflation, develop national policies for union-management relations, and resolve disputes between labor and companies for the duration for the war. This chapter explains the dire situation facing the United States and its allies in the winter of 1941-42, how the NWLB came into being, the board’s members, and the backgrounds and outlook of the young economists and attorneys who did the bulk of the board’s work. Philip Murray, the president of the Congress of Industrial Organizations and the Steelworkers union, called the staffers “the Labor Board boys.”


2020 ◽  
Vol 109 ◽  
pp. 102255
Author(s):  
Giovanni Di Bartolomeo ◽  
Marco Di Pietro ◽  
Elton Beqiraj

2020 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Yustia Saputri ◽  
Umaruddin Usman

This study aims to determine and analyze the influence of Provincial Minimum Wage, Inflation, and Total Population in North Sumatra Province. The data used in this study are secondary data for 19 years (2000-2018). The method of data analysis used is multiple linear regression with the help of Eviews 10. The results partially show that provincial minimum wage has a positive and significant effect on gross regional domestic products in North Sumatra province, inflation has a negative and insignificant effect on gross regional domestic products, and total population has a positive and insignificant effect on gross regional domestic products. Simultaneously, the provincial minimum wage, inflation, and total population have a positive and significant effect on gross regional domestic products.Keywords: Gross Regional Domestic Products, Provincial Minimum Wage, Inflation, and Total Population.


FEDS Notes ◽  
2020 ◽  
Vol 2020 (2550) ◽  
Author(s):  
◽  
Hie Joo Ahn ◽  
Han Chen ◽  
Michael Kister ◽  
◽  
...  
Keyword(s):  

Author(s):  
Vivien A. Schmidt

Chapter 9 examines the output legitimacy of Eurozone crisis governance, based in its policy effectiveness and performance. The chapter begins by showing that the crisis was misframed as one of public debt rather than private debt and misdiagnosed as resulting from bad behavior rather than the structure of the euro. The narratives did not reflect the periphery’s pre-crisis low deficits and debt (except for Greece) or account for the impact of competitive wage deflation and current account surpluses in Germany, as well as for bank-spurred wage inflation in the periphery (especially by German and French banks). The chapter then argues that EU actors chose the wrong remedies—budgetary austerity and structural reform instead of growth through stimulus and investment—and failed to devise adequate solutions. This is evidenced by the EU’s lack of effectiveness in monetary policy and investment compared to the US and by the increasing divergence in performance between Northern and Southern Europe. To blame is the failure to complete the architecture of the euro with the necessary economic instruments, not the fact that the Eurozone would never be an Optimum Currency Area (OCA). At fault were equally the excessive socioeconomic costs of austerity, reflected in levels of unemployment, inequality, and poverty, and the perversity of EU-led structural reforms. These “one size fits all” socioeconomic policies failed to take account of differences in national varieties of capitalism and growth models, while taking a tremendous toll on countries under conditionality—not just Greece but also Portugal, Spain, Italy, and even Ireland.


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