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Wage Indexation And Macroeconomic Stability
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Book Synopsis Wage Indexation and Macroeconomic Stability by : Mr.Esteban Jadresic
Download or read book Wage Indexation and Macroeconomic Stability written by Mr.Esteban Jadresic and published by International Monetary Fund. This book was released on 1996-11-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the seminal papers by Gray (1976) and Fischer (1977) were published, the major theorem of the wage indexation literature has been that indexing wages stabilizes output when shocks are nominal and destabilizes output when shocks are real. This paper reexamines the validity of this proposition taking into account the lags in actual indexation practices in an economy similar to that originally considered by those authors. It shows that in such a setup, wage contracts indexed to lagged inflation tend to destabilize output regardless of whether shocks are nominal or real.
Book Synopsis Wage Indexation and Macroeconomic Stability by : Esteban Jadresic
Download or read book Wage Indexation and Macroeconomic Stability written by Esteban Jadresic and published by . This book was released on 2006 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the seminal papers by Gray (1976) and Fischer (1977) were published, the major theorem of the wage indexation literature has been that indexing wages stabilizes output when shocks are nominal and destabilizes output when shocks are real. This paper reexamines the validity of this proposition taking into account the lags in actual indexation practices in an economy similar to that originally considered by those authors. It shows that in such a setup, wage contracts indexed to lagged inflation tend to destabilize output regardless of whether shocks are nominal or real.
Book Synopsis Wage Indexation and Macroeconomic Stability in the Open Economy by : Lars Calmfors
Download or read book Wage Indexation and Macroeconomic Stability in the Open Economy written by Lars Calmfors and published by . This book was released on 1979 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Macroeconomic Consequences of Wage Indexation Revisited by : Mr.Esteban Jadresic
Download or read book The Macroeconomic Consequences of Wage Indexation Revisited written by Mr.Esteban Jadresic and published by International Monetary Fund. This book was released on 1998-02-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1970s, there has been considerable research on the macroeconomic consequences of wage indexation. Nonetheless, until recently, this research had not explicitly explored the implications of contracts that index wages to lagged inflation, the usual type of wage indexation observed in practice. Drawing mainly on recent research by the author, this paper examines the consequences of wage indexation to lagged inflation on aggregate wage formation, the cost of disinflation under money- and exchange-rate-based stabilization, the variability of output under alternative shocks and policy regimes, the choice of exchange rate regime, and the level and variability of inflation.
Book Synopsis Wage Indexation, the Scandinavian Model and Macroeconomic Stability in the Open Economy by :
Download or read book Wage Indexation, the Scandinavian Model and Macroeconomic Stability in the Open Economy written by and published by . This book was released on 1982 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Macroeconomic Performance Under Alternative Exchange Rate Regimes by : Mr.Esteban Jadresic
Download or read book Macroeconomic Performance Under Alternative Exchange Rate Regimes written by Mr.Esteban Jadresic and published by International Monetary Fund. This book was released on 1998-08-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reexamines the macroeconomic effects of wage indexation in an open economy under alternative exchange rate regimes. The main finding is that, once the lags in actual indexation rules are considered, wage indexation affects output behavior substantially less than posited in the previous academic literature. This result implies that the academic view that wage indexation makes a flexible exchange rate generally preferable is unwarranted and suggests that the choice of exchange rate regime with and without wage indexation depends on similar factors. The analysis also reveals that the net effects of wage indexation on macroeconomic stability are ambiguous.
Book Synopsis Wage Indexation and Macroeconomic Stability by :
Download or read book Wage Indexation and Macroeconomic Stability written by and published by . This book was released on 1996 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Achieving Macroeconomic Stability by : Johan van Gompel
Download or read book Achieving Macroeconomic Stability written by Johan van Gompel and published by . This book was released on 1995 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Indexation, the Scandinavian Model and Macroeconomic Stability in the Open Economy by : Lars Calmfors
Download or read book Wage Indexation, the Scandinavian Model and Macroeconomic Stability in the Open Economy written by Lars Calmfors and published by . This book was released on 1982 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage-indexation and Macro-economic Stability by : Stanley Fischer
Download or read book Wage-indexation and Macro-economic Stability written by Stanley Fischer and published by . This book was released on 1976 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Forward-Versus Backward-Looking Wage Indexationon Price Stabilization Programs by : Mr.Joe Crowley
Download or read book The Effects of Forward-Versus Backward-Looking Wage Indexationon Price Stabilization Programs written by Mr.Joe Crowley and published by International Monetary Fund. This book was released on 1997-04-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: A standard open-economy model is used to show that price stabilization programs are more likely to succeed if labor contracts specify forward-looking wage indexation. Compared with contracts specifying backward-looking wage indexation or wages based on static expectations, such contracts will result in a greater reduction in inflation with lower output costs, smaller misalignment of real wages, smaller outflows of reserves, smaller disruptions caused by policy announcements, and a reduced impact of some shocks during price stabilization programs. These results are generally true whether or not capital is mobile and whether or not expectations are rational.
Book Synopsis Imported Materials Prices, Wage Policy, and Macroeconomic Stabilization by : Richard C. Marston
Download or read book Imported Materials Prices, Wage Policy, and Macroeconomic Stabilization written by Richard C. Marston and published by . This book was released on 1983 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes two simple wage rules that keep employment constant when there are shocks to the prices of imported materials. One rule ties nominal wages to the GNP deflator rather than the consumer price index. The second rule, followed by Japan after the second oil price shock, ties the real wage to real GNP. The paper shows the effects on output, real income, and other macroeconomic variables of choosing either rule in place of the real wage stability provided by conventional wage indexation.
Book Synopsis Real and Relative Wage Rigidities by : Pertti Haaparanta
Download or read book Real and Relative Wage Rigidities written by Pertti Haaparanta and published by . This book was released on 1986 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Incomes Policy written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-01-21 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Incomes Policy Incomes policies in economics are economy-wide wage and price controls, most commonly instituted as a response to inflation, and usually seeking to establish wages and prices below free market level. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Incomes policy Chapter 2: Inflation Chapter 3: Full employment Chapter 4: New Keynesian economics Chapter 5: Phillips curve Chapter 6: Economic Stabilization Act of 1970 Chapter 7: Built-in inflation Chapter 8: National income policy agreement (Finland) Chapter 9: Price controls Chapter 10: 1973 Australian referendum (Incomes) Chapter 11: Fiscalism Chapter 12: Nixon shock Chapter 13: Prices and Incomes Accord Chapter 14: General Maximum Chapter 15: Vuskovic plan Chapter 16: Nixonomics Chapter 17: Demand-led growth Chapter 18: NAIRU Chapter 19: 1973-1975 recession Chapter 20: Hyperinflation in Brazil Chapter 21: Impact of the Korean War on the economy of the United States (II) Answering the public top questions about incomes policy. (III) Real world examples for the usage of incomes policy in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Incomes Policy.
Book Synopsis Relative Impact of Wage-Price Controls and Wage-Indexation on Economic Growth and Price Stability by : Economic Council of Canada
Download or read book Relative Impact of Wage-Price Controls and Wage-Indexation on Economic Growth and Price Stability written by Economic Council of Canada and published by . This book was released on 1980 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Management of an Open Economy with "100% Plus" Wage Indexation by : Franco Modigliani
Download or read book The Management of an Open Economy with "100% Plus" Wage Indexation written by Franco Modigliani and published by . This book was released on 1978 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Indexing, Inflation, and Economic Policy by : Stanley Fischer
Download or read book Indexing, Inflation, and Economic Policy written by Stanley Fischer and published by MIT Press (MA). This book was released on 1986 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stanley Fischer has brought together this collection of essays in support of the view that mainstream macroeconomics can contribute much that it is both scientifically and socially useful to the analysis of policy issues and controversies.
