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|z 9781451846973
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|a 1018-5941
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|a Braumann, Benedikt.
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|a High Inflation and Real Wages /
|c Benedikt Braumann.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2001.
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|a 1 online resource (24 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Empirical data show that real wages fall sharply during periods of high inflation. This paper suggests a simple general equilibrium explanation, without relying on nominal rigidities. It presents an intertemporal two-sector model with a cash-in-advance constraint. In this setting, inflation reduces real wages through (1) a decline of the capital stock, and (2) a shift in relative prices. The two effects are additive and make the decline in real wages exceed the decline in per-capita GDP. This mechanism may contribute to rising poverty during periods of high inflation.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2001/050
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2001/050/001.2001.issue-050-en.xml
|z IMF e-Library
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