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The Wage Price Spiral
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Book Synopsis The Wage-Price Spiral by : Ms.Magda E. Kandil
Download or read book The Wage-Price Spiral written by Ms.Magda E. Kandil and published by International Monetary Fund. This book was released on 2003-08-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using quarterly time-series data for a sample of twelve industrial countries, the paper investigates the dynamics of nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage-price spiral and accompanying fluctuations. During economic expansions, the overlap of nominal adjustments in labor and product markets prolongs output expansion while maintaining or increasing the standard of living. In contrast, structural and institutional settings appear to have moderated the severity of the effects of contractionary demand shocks on real output growth and the standard of living in the variety of countries under investigation.
Author :Chamber of Commerce of the United States of America. Committee on Economic Policy Publisher : ISBN 13 : Total Pages :36 pages Book Rating :4.:/5 (31 download)
Book Synopsis Wage-price Spirals and Economic Stability, with Questions for Wage Negotiations by : Chamber of Commerce of the United States of America. Committee on Economic Policy
Download or read book Wage-price Spirals and Economic Stability, with Questions for Wage Negotiations written by Chamber of Commerce of the United States of America. Committee on Economic Policy and published by . This book was released on 1949 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage-Price Spirals: What is the Historical Evidence? by : Jorge Alvarez
Download or read book Wage-Price Spirals: What is the Historical Evidence? written by Jorge Alvarez and published by International Monetary Fund. This book was released on 2022-11-11 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: How often have wage-price spirals occurred, and what has happened in their aftermath? We investigate this by creating a database of past wage-price spirals among a wide set of advanced economies going back to the 1960s. We define a wage-price spiral as an episode where at least three out of four consecutive quarters saw accelerating consumer prices and rising nominal wages. Perhaps surprisingly, only a small minority of such episodes were followed by sustained acceleration in wages and prices. Instead, inflation and nominal wage growth tended to stabilize, leaving real wage growth broadly unchanged. A decomposition of wage dynamics using a wage Phillips curve suggests that nominal wage growth normally stabilizes at levels that are consistent with observed inflation and labor market tightness. When focusing on episodes that mimic the recent pattern of falling real wages and tightening labor markets, declining inflation and nominal wage growth increases tended to follow – thus allowing real wages to catch up. We conclude that an acceleration of nominal wages should not necessarily be seen as a sign that a wage-price spiral is taking hold.
Book Synopsis The Wage-Price Spiral Industrial Country Evidence and Implications by : Magda Kandil
Download or read book The Wage-Price Spiral Industrial Country Evidence and Implications written by Magda Kandil and published by . This book was released on 2006 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using quarterly time-series data for a sample of twelve industrial countries, the paper investigates the dynamics of nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage-price spiral and accompanying fluctuations. During economic expansions, the overlap of nominal adjustments in labor and product markets prolongs output expansion while maintaining or increasing the standard of living. In contrast, structural and institutional settings appear to have moderated the severity of the effects of contractionary demand shocks on real output growth and the standard of living in the variety of countries under investigation.
Book Synopsis Unemployment and Inflation by : Roger LeRoy Miller
Download or read book Unemployment and Inflation written by Roger LeRoy Miller and published by . This book was released on 1974 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on unemployment and inflation in the USA - presents a supply and demand model to describe the two types of inflation, discusses the role of price expectations in causing fluctuations in unemployment, and considers the economics and theoretics of wages and price controls, etc. Diagrams, graphs and references.
Book Synopsis Wage Restraint and the Control of Inflation by : Beth Bilson
Download or read book Wage Restraint and the Control of Inflation written by Beth Bilson and published by Routledge. This book was released on 2016-04-20 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1945 preventing runaway wage inflation has been regarded as a key policy in managing an economy in a successful way. The exact nature of pay control has varied from country to country and from time to time. This book, originally published in 1987, examines pay control policies in major Western economies. It surveys developments from 1945 and explores the aims of pay policies and discusses the problems of implementation, comparing the different kinds of policies. By comparing the performance of these different approaches the book assesses the merits and pitfalls of the different approaches.
Book Synopsis The Wage-Price Guideposts by : John Sheahan
Download or read book The Wage-Price Guideposts written by John Sheahan and published by . This book was released on 1967 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dutch Inflation: Developments, Drivers, and the Risk of Wage-Price Spiral by : Saioa Armendariz
Download or read book Dutch Inflation: Developments, Drivers, and the Risk of Wage-Price Spiral written by Saioa Armendariz and published by International Monetary Fund. This book was released on 2023-03-13 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global inflation surged in 2022, driven by high gas price growth. With Russia being a key supplier of energy products, the start of the war in Ukraine has led to strong inflationary pressures in the euro area (EA), given the region’s significant exposure to the Russian gas. The price shock has been particularly strong in the Netherlands, largely due to the larger share of gas on the energy mix compared to other peers, making the country vulnerable to changing market conditions.
Author :Karl Brunner Publisher :Amsterdam ; New York : North-Holland Publishing Company ; New York : sole distributors for the U.S.A. American Elsevier Publishing Company ISBN 13 : Total Pages :334 pages Book Rating :4.3/5 (91 download)
Book Synopsis The Economics of Price and Wage Controls by : Karl Brunner
Download or read book The Economics of Price and Wage Controls written by Karl Brunner and published by Amsterdam ; New York : North-Holland Publishing Company ; New York : sole distributors for the U.S.A. American Elsevier Publishing Company. This book was released on 1976 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of conference papers on the economics of wage policy and price controls in the USA - refers to the economic implications and effects of controls, the impact of excess demand and wage-price controls on wage inflation in the UK, and the application of time series economic models to inflation and incomes policy, etc. Diagrams, graphs, references and statistical tables. Conference held in rochester 1973 November.
Book Synopsis Wage-Price Dynamics and Structural Reforms in Japan by : Davide Porcellacchia
Download or read book Wage-Price Dynamics and Structural Reforms in Japan written by Davide Porcellacchia and published by International Monetary Fund. This book was released on 2016-02-10 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structural reforms in the liquidity trap need not be deflationary. This paper develops a simple framework to study the role that key characteristics of Japan’s labor and product markets—labor-market duality and weak corporate governance—play in generating unfavorable wage-price dynamics. The model allows a discussion of whether and in what form structural reforms may contribute to Japan’s short-run goal of reflating the economy. It finds that boosting inflation with structural reforms implies an unusual trade-off with employment, that is an inverted Phillips curve. Simultaneous implementation of labor-market and product-market reforms is most effective in terms of reflating the economy.
Book Synopsis Wage-price Spiral in Poland and Other Postcommunist Countries by : Mateusz Walewski
Download or read book Wage-price Spiral in Poland and Other Postcommunist Countries written by Mateusz Walewski and published by . This book was released on 1998 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exhortation and Controls by : Craufurd D. Goodwin
Download or read book Exhortation and Controls written by Craufurd D. Goodwin and published by Washington : Brookings Institution. This book was released on 1975 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Details the contributions of presidents and economic advisers to the evolution of a domestic policy that would reconcile full employment, price stability, and free enterprise from the Truman to the Nixon wage price controls.
Book Synopsis Inflation Expectations by : Peter J. N. Sinclair
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Book Synopsis Inflation Targeting by : Ben S. Bernanke
Download or read book Inflation Targeting written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2018-06-05 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is the first in-depth study of inflation targeting. Combining penetrating theoretical analysis with detailed empirical studies of countries where inflation targeting has been adopted, the authors show that the strategy has clear advantages over traditional policies. They argue that the U.S. Federal Reserve and the European Central Bank should adopt this strategy, and they make specific proposals for doing so. The book begins by explaining the unique features and advantages of inflation targeting. The authors argue that the simplicity and openness of inflation targeting make it far easier for the public to understand the intent and effects of monetary policy. This strategy also increases policymakers' accountability for inflation performance and can accommodate flexible, even "discretionary," monetary policy actions without sacrificing central banks' credibility. The authors examine how well variants of this approach have worked in nine countries: Germany and Switzerland (which employ a money-focused form of inflation targeting), New Zealand, Canada, the United Kingdom, Sweden, Israel, Spain, and Australia. They show that these countries have typically seen lower inflation, lower inflation expectations, and lower nominal interest rates, and have found that one-time shocks to the price level have less of a "pass-through" effect on inflation. These effects, in turn, are improving the climate for economic growth. The authors warn, however, that the success of inflation targeting depends on operational details, such as how the targets are defined and when they are announced. They also show that inflation targeting is not a panacea that can make inflation perfectly predictable or reduce it without economic costs. Clear, balanced, and authoritative, Inflation Targeting is a groundbreaking study that will have a major impact on the debate over the right monetary strategy for the coming decades. As a unique comparative study of what central banks actually do in different countries around the world, this book will also be invaluable to anyone interested in how economic policy is made.
Book Synopsis A Perspective of Wages and Prices (Routledge Revivals) by : Henry Phelps Brown
Download or read book A Perspective of Wages and Prices (Routledge Revivals) written by Henry Phelps Brown and published by Routledge. This book was released on 2013-06-17 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in book form in 1981, this collection of essays originally written between 1955 and 1966 contains ground-breaking research and analysis on the study of wages and prices across seven centuries, with particular reference to builder’s wage rates and the price of a bundle of the commodities on which these wages might be spent. These seminal contributions to the economics of labour and economic growth did much to fuel the debate surrounding the problems of inflation, stability and changes in the purchasing power of money upon the book’s initial publication. These concerns are every bit as relevant in today’s post credit-crunch society and this reissue will be welcomed by all students of economic history and labour economics.
Book Synopsis The Wage-price Spiral in Greece by : Dimitrios Sideris
Download or read book The Wage-price Spiral in Greece written by Dimitrios Sideris and published by . This book was released on 1996 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Wage-price Problem by : John Maurice Clark
Download or read book The Wage-price Problem written by John Maurice Clark and published by . This book was released on 1960 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Feeling unloved, two brothers run away from their expensive home and seek refuge with the elderly caretaker of the county dump.
