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...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Braumann, Benedikt
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2001.
Sarja:IMF Working Papers; Working Paper ; No. 2001/050
Linkit:Full text available on IMF