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Wage Indexation Flexibility And Inflation
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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, Flexibility and Inflation by : Andrés E. Marinakis
Download or read book Wage Indexation, Flexibility and Inflation written by Andrés E. Marinakis and published by . This book was released on 1993 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Indexation and Wage Flexibility on Inflation by : Frank Heinemann
Download or read book The Impact of Indexation and Wage Flexibility on Inflation written by Frank Heinemann and published by . This book was released on 1998 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 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 Wage Flexibility and Economic Performance by : Magda Kandil
Download or read book Wage Flexibility and Economic Performance written by Magda Kandil and published by International Monetary Fund. This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Wage-inflation-unemployment Nexus by : Robert Kyloh
Download or read book The Wage-inflation-unemployment Nexus written by Robert Kyloh and published by . This book was released on 1988 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Indexation, Flexible Exchange Rates, and Macroeconomic Policy by : Jeffrey Sachs
Download or read book Wage Indexation, Flexible Exchange Rates, and Macroeconomic Policy written by Jeffrey Sachs and published by . This book was released on 1979 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Nominal Wage Flexibility, Wage Indexation and Monetary Union by : Lars Calmfors
Download or read book Nominal Wage Flexibility, Wage Indexation and Monetary Union written by Lars Calmfors and published by . This book was released on 2002 with total page 28 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 Wage Indexation and International Competitiveness in Belgium: An Uneasy Coexistence by : André Geis
Download or read book Wage Indexation and International Competitiveness in Belgium: An Uneasy Coexistence written by André Geis and published by International Monetary Fund. This book was released on 2023-03-02 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belgium is one of a small group of euro area countries that maintains indexation of wages to inflation as part of its wage setting framework. With intensified price pressures since late 2020 driving inflation to record levels, the tension between compensating workers for purchasing power losses while maintaining international competitiveness have again been highlighted. To improve the performance and viability of the current setup, several avenues of reform could be envisaged. In particular, the scope for excluding price increases in highly volatile components, like energy and food, from the indexation basis should be explored to less the need to restore competitiveness by prolonged periods of real wage restraint. Moreover, options to widen the flexibility of the indexation regime should be contemplated to alleviate the burden of firms at times of large and multiple shocks, thereby also preserving investment and employment. Finally, productivity trends should also be accounted for to capture deviations of labor costs between Belgium and its key export markets.
Book Synopsis Stabilization with Wage Indexation and Exchange Rate Flexibility by : Johan van Gompel
Download or read book Stabilization with Wage Indexation and Exchange Rate Flexibility written by Johan van Gompel and published by . This book was released on 1993 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Flexibility and Openness by : Joshua Aizenman
Download or read book Wage Flexibility and Openness written by Joshua Aizenman and published by . This book was released on 1986 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the degree of short-run, real wage flexibility in a two-sector economy under floating rates. This is done by deriving optimal wage indexation in a contracting framework. We find that the more closed the economy, the lower the degree of wage indexation. As a result, output will fluctuate less around its desired level in a more closed economy. These findings further imply that a given unexpected monetary shock will cause as maller output shock in a more open economy, whereas a given real shock will induce a smaller output shock in a more closed economy
Book Synopsis Nominal Wage Flexibility, Wage Indexation & Monetary Union by :
Download or read book Nominal Wage Flexibility, Wage Indexation & Monetary Union written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Adjustment, Inflation and Equity Effect by : Luis A. Riveros
Download or read book Adjustment, Inflation and Equity Effect written by Luis A. Riveros and published by . This book was released on 1992 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Wage Indexation in the United States by : Wallace E. Hendricks
Download or read book Wage Indexation in the United States written by Wallace E. Hendricks and published by . This book was released on 1985 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of cost of living wages indexation in the USA, particularly 1967 to 1982 - based on collective agreement data and econometric models, discusses impact on strike frequency, and wage differentials and inflation; considers trade union attitudes, and difference between labour contracts of unionized workers and nonunionized workers; give historical background; assesses wage policy implications. References, statistical tables.
