Titlebook: Distributional Conflict and Inflation; Theoretical and Hist Richard C. K. Burdekin,Paul Burkett Book 1996 Palgrave Macmillan, a division of

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harpsichord

Some Concluding Policy Perspectivesssons of the conflict approach - as applied in the foregoing chapters - is that controlling inflation is not just a matter of technical manipulation of fiscal and monetary instruments, but also hinges upon the degree of (implicit or explicit) distributional consensus among the major income claimants

Neuralgia

emedies this gap by treating private-sector distributional conflicts as well as government budgetary pressures on the money supply and the price level. Attention is drawn to the costs of non-accommodative policies in a conflict setting - and to the additional difficulties of non-accommodation likely

Instantaneous

Conflicting Claims and Monetary Policy Rules: A Theoretical Viewned), there will be no . tradeoff even in the short run (Sargent and Wallace, 1975). Here, systematic policy is anticipated by economic agents and – with the help of the Walrasian auctioneer – effectively neutralized, leaving unemployment unchanged at the ‘natural rate’.

Inclement

Decongestant

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largesse

https://doi.org/10.1007/978-1-4899-5976-8e fundamental causal factor in the sense that, without dissatisfaction over the existing level and/or distribution of national income, the basis for inflationary growth of the supply and/or velocity of money simply would not exist.

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