New Attitudes About Inflation

Philip Arestis, John McCombie and Warren Mosler

Challenge, 2006, vol. 49, issue 5, 33-52

Abstract: The authors point out a rarely considered fact about monetary policy. Ironically, central banks now tolerate inflation that is faster than the rise in wages. Workers pay the price. In this piece, the authors analyze the new focus on core inflation, and the politics involved, and point out that workers are bearing more of the burden than is realized.

Date: 2006
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DOI: 10.2753/0577-5132490503

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