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|c 5.00 USD
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|z 9781451845655
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Crowley, Joe.
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|a The Effects of Forward-Versus Backward-Looking Wage Indexationon Price Stabilization Programs /
|c Joe Crowley.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1997.
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|a 1 online resource (34 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 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.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1997/038
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1997/038/001.1997.issue-038-en.xml
|z IMF e-Library
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