3 ms·
Moderate inflation is a feature, not a bug, due to sticky wages [1]. Without inflation you get longer lasting recessions and worse unemployment. [1]: https://en
by kpommerenke 6y ago
Moderate inflation is a feature, not a bug, due to sticky wages [1]. Without inflation you get longer lasting recessions and worse unemployment.
[1]: https://en.wikipedia.org/wiki/Nominal_rigidity https://en.wikipedia.org/wiki/Nominal_rigidity