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Section in Wage Inflation
Inflation in the U S Economy
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accelerationist hypothesis adjustments argument average duration Bailey and Friedman bank reserves bond yield cash balance cost cash-balance cost conclusion constant cost of inflation deficit demand for real discussion distribution economic theory economy Edmund Phelps Edward Foster effect of inflation employers equilibrium interest rate estimate expected financing flation flight from cash future Gronau higher rates holding cash Holt's model hyperinflation impact of inflation investment Irving Fisher job search job seeker Keynes labor force labor market liquidity preference curve loss lower measure ment microeconomic Milton Friedman monetary money supply nomic nominal nominal money opportunity cost output payments Phillips Phillips curve physical assets ployment price rise question rate of inflation rate of unemployment rate of wage real balances real cash balances real resources redistribution reduce relative prices reservation wage resign resource allocation Section spend tion unem unemployed vacancies variables wage changes wage increase wage inflation workers