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Inflation, changement structurel et conflit de répartition : enseignements pour la politique économique

Author

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  • Jean-Luc Gaffard
  • Mauro Napoletano
  • Francesco Saraceno

Abstract

The standard theory of inflation is that it is a global phenomenon that can only last and intensify because of a wage price spiral that expresses a fundamental conflict between capital and labor. Without seeking to deny this aspect of the problem, we aim to show that inflation also has a structural aspect, making the distributional conflict more complex to analyse and requiring an anti-inflation policy that is not limited to monetary policy. The challenge is to prevent the economy from shifting from a low-inflation to a high-inflation regime, from structural to global, out-of-control inflation. JEL classification: E25, E31, E52, E64.

Suggested Citation

  • Jean-Luc Gaffard & Mauro Napoletano & Francesco Saraceno, 2024. "Inflation, changement structurel et conflit de répartition : enseignements pour la politique économique," Revue d'économie financière, Association d'économie financière, vol. 0(1), pages 213-230.
    • Handle: RePEc:cai:refaef:ecofi_153_0213
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    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy

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