Gewei Cao 曹格玮 - Wage-Price Spirals

Gewei Cao 曹格玮

Wage-Price Spirals: What is the Historical Evidence?

citation:

Alvarez, J., Bluedorn, M. J. C., Hansen, M. N. J. H., Huang, Y., Pugacheva, E., & Sollaci, A. (2022). Wage-price spirals: What is the historical evidence?. International Monetary Fund. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4295047

Many economists and politicians believe that rising wages of workers will cause inflation, and finally leads to a price-wage spiral. However, is this belief true? This IMF paper used empirical evidence to show that the famous wage-price spiral did not widely appear in the history of developed economies.

Chinese video version： https://www.bilibili.com/video/BV1wo4y1t7R5/?spm_id_from=444.41.list.card_archive.click&vd_source=5804753a26d166b2bc639196d32dd9fd

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