Agreeing in Different Languages by Steve Randy Waldman
Waldman comments:
...But based on the same experience, one might argue with Burns that inflation was a “wage-price” “cost-push” effect of labor bargaining power, a phenomenon addressed by Reagan and Japanese auto manufacturers more Volcker. We only have one dramatic disinflation experiment, and despite the self-congratulation of some economists ex post, Burns’ view of inflation an multi-causal remains current and wins on parsimony.
Demographics and inflation: international graphs by Steve Randy Waldman
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