High Inflation and Real Wages /
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...
| Autor principal: | |
|---|---|
| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
2001.
|
| Col·lecció: | IMF Working Papers; Working Paper ;
No. 2001/050 |
| Accés en línia: | Full text available on IMF |