This paper examines empirically the conflict theory of inflation, using a sample of pooled time-series, cross-section data over the period 1971-87 for 10 industrial countries: U.S., Japan, Canada, Germany, France, U.K., Italy, Belgium, Netherlands, and Sweden. To this end a wage-price adjustment model based on the ideas of distributional conflict in wage formation and mark-up pricing in goods markets is set out. The model provides a satisfactory explanation of the inflationary process in industrial countries. It is shown that conflict between workers and capitalists over the distribution of income exerts a significant influence on the pattern of inflation. Import prices, inflationary expectations and labor market conditions are also important, with the latter acting as a regulator of class conflict. Copyright 1991 by Taylor and Francis Group
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