The Phillips Curve: Missing the Obvious and Looking in All the Wrong Places. Workers may have absolutely correct expectations of inflation but not incorporate them into nominal wage demands because of job fears.
The wars in the Middle East and the speculation in the futures market failed up to now to create a jump of the crude oil prices. How long will it last?
The ‘flexible’ labour reforms – which will allow employers to fire workers on the payroll for three years without justification – will do nothing to reverse the backwardness of Italy’s economy.
