Download or read book Distributional Conflict and Inflation written by R. Burdekin and published by Springer. This book was released on 1996-08-28 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been relatively little work applying the conflict inflation approach in different theoretical and historical settings. This book remedies 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 associated with the use of exchange rate pegging as a disinflation device.
Download or read book Distributional Conflict and Inflation written by R. Burdekin and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Distributional Conflict and Inflation written by Richard C. K. Burdekin and published by . This book was released on 1996 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been relatively little work applying the conflict inflation approach in different theoretical and historical settings. This book remedies 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-accommodativepolicies in a conflict setting - and to the additional difficulties of non-accommodation likely associated with the use of exchange rate pegging as a disinflation device.
Download or read book Conflict inflation and the distribution of income written by Peter Skott and published by . This book was released on 1992 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Conflict Fuels Inflation But the Tinder Lies Elsewhere written by Arslan Razmi and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing country inflation is in the headlines again. Mainstream macroeconomics typically ignores the role of conflict while non-mainstream work tends to ignore macroeconomic constraints. This paper revisits the issue employing a dependent economy framework with eclectic characteristics. Specifically, I explore the mechanisms that propagate both real and monetary sources of inflation in the presence of real wage resistance and distributional conflict. The analysis shows that the inability to pay for subsidies with taxes or bond issuance in a stylized developing economy could create a situation where a relatively small shock leads to sustained and accelerating inflation and a wage-price spiral, thanks to conflicting claims on income. Subsidies to protect consumers from external price shocks could, similarly, leave a country vulnerable to accelerating wage-price spirals as the relative price effects of a declining foreign asset position are dampened. Distributional conflict thus plays the role of sustainer rather than the primum mobile. Price controls could, in theory, better enable inflation management if these do not result in redistribution towards spenders. Such controls, however, create other trade-off for countries facing balance-of-payments fragility.
Download or read book Income Distribution Inflation and Growth written by Lance Taylor and published by MIT Press. This book was released on 1991 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structuralist macroeconomics has emerged recently as the only viable theoretical alternative for economists and practitioners in developing countries. Lance Taylor's innovative work represents a landmark in this field. It codifies a new generation of structuralist macroeconomic models that incorporate the economic power relationships of key institutions and groups, integrates both finance and real macroeconomics, and covers a diverse range of experience in the developing world over the past three decades. In an introduction Taylor explains his methodology, describes assumptions underlying the models used, and reviews theories that relate economic growth and the role of financial assets. He then takes up basic structuralist models of a closed economy and moves on to consider the open economy cases. He incorporates the latest developments in the field (inflation, financial crisis, exchange rate management, increasing returns, and the like) in a treatment that departs substantially from economic orthodoxy. Taylor first addresses the question of how to specify "closure" or define the causal structure of macro models. He also considers how income redistribution influences growth and output and how income redistribution interacts with inflation. Next, an investment-driven non-full employment growth model draws on ideas introduced earlier to illustrate how different sorts of macroeconomic policies affect short-run adjustment and growth prospects over time. Taylor then turns to the problems proposed by economic openness in a stylized semi-industrialized country, starting with international trade. A fix-price/flex-price model is developed, and additional models demonstrate cases of policy relevance as well as interactions between class conflict and growth.
Download or read book On Inertia Social Conflict and the Structuralist Analysis of Inflation written by Jaime Ros and published by . This book was released on 1989 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State Intervention Into Conflict Over Income Distribution written by Richard Jankowski and published by . This book was released on 1984 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation and Social Conflict written by Michael Gilbert and published by Brighton, Sussex : Wheatsheaf Books. This book was released on 1986 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Battle of the Markups written by Frederick van der Ploeg and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the post-Covid rise in inflation, a debate has emerged whether this inflation is "seller-driven" and, if so, how policy should respond. We build a model to capture the underlying distributional conflict between wage- and price-setters both wishing to attain a certain markup. We highlight a new "aspirational channel" of monetary transmission: by influencing cyclical conditions, a central bank can control inflation through affecting markup aspirations of workers and firms. We establish conditions under which an inflationary situation characterized by inconsistent aspirations requires a reduction in economic activity, to push demands of workers and firms towards consistency. We find that countercyclical markups and/or a flat Phillips curve call for more "dovish" monetary policy (responding less to inflation deviations, more to the output gap). Estimating price markup cyclicality across 43 countries, we find that contractionary monetary shocks indeed have stronger anti-inflationary effects in countries with greater markup procyclicality.
Download or read book Inflation is Always and Everywhere a Conflict Phenomenon written by Eckhard Hein and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the post-Keynesian theory of inflation against the background of the simultaneous rise in inflation and profit shares in the course of the Covid-19 recovery and the Russian war in Ukraine. It distinguishes between the Keynes, Kaldor, Robinson, and Marglin tradition, and the Kalecki, Rowthorn, and Dutt tradition. Two prototype models in the latter tradition-the Dutt, Blecker/Setterfield and Lavoie variant, and the Rowthorn and Hein/Stockhammer variant-are discussed. The paper applies the latter to elucidate recent inflation trends propelled by increasing imported energy prices and then rising mark-ups. The effects of inflation-targeting central bank interest policies versus a post-Keynesian alternative macroeconomic policy approach are evaluated. It is argued that from a post-Keynesian perspective inflation is always and everywhere a conflict phenomenon, with different potential triggers. Adequate policies should thus focus on moderating distribution conflict by incomes policies, complemented by central banks targeting low long-term real interest rates, functional finance fiscal policies and international coordination of inflation targets.
Download or read book Institutions Inflation and Unemployment written by Edward J. Amadeo and published by Edward Elgar Publishing. This book was released on 1994 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work looks at the relationship between inflation and distributive conflict among social groups in an environment of pervasive uncertainty. It considers theoretical, institutional and empirical aspects of a problem which has been at the root of the Brazilian development crisis for 15 years.
Download or read book Inflation Income Distribution and Class Conflict written by John K. Thompson and published by . This book was released on 1979* with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Time Consistency Redistribution Inequality and Monetary Policy written by Stefania Albanesi and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of my dissertation is to study and evaluate two views about the origins of high inflation and its cross-country variation: the inflation bias hypothesis and the distributional conflict hypothesis.
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Download or read book Money Distribution Conflict and Capital Accumulation written by E. Hein and published by Springer. This book was released on 2007-12-19 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates that 'monetary analysis', as contained in Post-Keynesian monetary theories, but also in the Neo-Ricardian monetary theory of distribution and in Marx's monetary analysis, can be integrated into Post-Keynesian models of distribution of growth in a convincing way.
Download or read book Capital Mobility and Distributional Conflict in Chile South Korea and Turkey written by Kurtuluş Gemici and published by Routledge. This book was released on 2020-05-04 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why did many emerging countries pursue risky financial opening policies in a reckless manner, even after the painful example of the Latin American debt crisis? Unlike trade liberalization, which has mostly been beneficial in emerging countries, the removal of capital controls has led to boom-bust patterns in many countries. It is not simply driven by class or sectoral interests, nor is it just a result of ideational changes in policy-making circles, or international pressure. Gemici argues that to fully understand the motivation for these policies, we need to take into account distributional struggles prior to their enactment. In this book, Gemici shows that conflictual distributional relations significantly increase the likelihood of capital account liberalization. Through in-depth comparative case studies, he also demonstrates that countries which liberalize in the most comprehensive manner tend to be the countries characterized by a high degree of distributional conflict. The case studies – Argentina, Chile, South Korea , and Turkey – have been chosen to maximise variation in distributional relations and to escape regional clustering, showing quite different trajectories of capital account liberalization. This will be of great interest to readers in sociology, international political economy and heterodox economics, as well as specialists in the countries examined.
