Arbeitspapier

Inflation and distribution during the post-COVID recovery

The early stages of recovery from the recession induced by the COVID-19 pandemic have been accompanied by a marked increase in inflation in the US and elsewhere. Much has been made of this outcomes, and the economic distress associated with it, in popular discussion of the economy. This paper provides a Kaleckian conflicting-claims analysis of inflation during the post-COVID recovery, that distinguishes between rising wages, pandemic-related supply shocks, and corporate price-setting behaviour as sources of inflationary pressure. A key conclusion that arises from the co-determination of inflation and distributional outcomes in the Kaleckian framework is that distributional developments that have further disadvantaged working households, rather than inflation per se, are the chief source of recent economic distress - and should be the chief cause for concern among policy makers.

Sprache
Englisch

Erschienen in
Series: FMM Working Paper ; No. 82

Klassifikation
Wirtschaft
Institutions and the Macroeconomy
General Aggregative Models: Marxian; Sraffian; Kaleckian
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Aggregate Factor Income Distribution
Price Level; Inflation; Deflation
Incomes Policy; Price Policy
Thema
Inflation
COVID-19
conflicting claims
wage share
income distribution

Ereignis
Geistige Schöpfung
(wer)
Setterfield, Mark
Ereignis
Veröffentlichung
(wer)
Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM)
(wo)
Düsseldorf
(wann)
2022

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Setterfield, Mark
  • Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM)

Entstanden

  • 2022

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