Sentences with phrase «because nominal wage growth»
Because nominal wage growth for a large fraction of workers has been held to zero, a somewhat higher rate of inflation would grease the wheels of the labor market by allowing real wages to fall (Akerlof, Dickens, and Perry 1996).
https://www.frbsf.org/ Not exact matches
Because nominal growth equals real growth plus inflation, both nominal wage and NGDP targets implicitly account for inflation while also focusing on indicators more likely to promote the goal of full employment.