Workers may be prepared to accept zero wage increases if inflation is 3%, implying a 3% real pay cut.

ECONOMIST: Central banks disagree on the rate of inflation to aim for

It should be close to zero, as increases in regional spending ought to be balanced by reductions in the central budget.

ECONOMIST: Italian government

Starting from zero, every dollar of salary increases your credit until you hit a plateau.

FORBES: Earned Income Tax Credit (EITC) Punishes Marriage

Consumers still need to save more, and continue reducing debt, and I had thought that would hold increases in consumption spending to zero or below.

FORBES: The Economy Glass Getting Half Full

The simple r-g assumption is one of the most important in debt dynamics: an r-g of greater than zero (when interest rates are greater than GDP growth) means that the debt stock increases over time.

ECONOMIST: Daily chart