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Инфлацията като конфликт на разпределението
Inflation as distributive conflict

Author(s): Ivan Todorov
Subject(s): Economy, Financial Markets, Human Resources in Economy
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Inflation; Philips Curve; Wage-price Spiral
Summary/Abstract: The consideration of inflation as a phenomenon of scarce labor is established in empirical research, which confirms the Phillips Curve as a central postulate at the base of economic policy. Despite the dominant accelerationist view, the accumulated results from the 1980s to now also reveal some conundrums related to the Non-Accelerating Inflation Rate of Unemployment (NAIRU) hypotheses. The current period of supply side turmoil has renewed the review for alternative ideas about inflation, including understanding it as a distributional conflict between workers and employers. In view of the need for coordination in the event of supply-side shocks, this appears to be a pragmatic approach.