Keynesian models of economic activity also include a multiplier effect ... money affects only nominal variables in the economy, such as prices and wages, and has no effect on real variables, like ...

Abstract: Empirical data show that real wages fall sharply during periods of high inflation. This paper suggests a simple general equilibrium explanation, without relying on nominal rigidities. It ...

TASS/. Real wages are expected to grow by 2.7% by the end of this year, the International Labor Organization (ILO) said in its report. "Global wages have been growing faster than inflation in ...