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|c 5.00 USD
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|z 9781451842647
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Agenor, Pierre-Richard.
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|a Wage Contracts, Capital Mobility, and Macroeconomic Policy /
|c Pierre-Richard Agenor.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1995.
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| 300 |
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|a 1 online resource (32 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 This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, three-good optimizing model with imperfect capital mobility, nominal wage contracts with backward- or forward-looking price expectations, and endogenous mark-up pricing in the nontraded goods sector. The effects of a cut in government spending on nontraded goods are shown to be independent of the expectational mechanism embedded in wage contracts. A reduction in the nominal devaluation rate lowers steady-state output in the tradable sector under backward-looking contracts, but exerts an expansionary effect under forward-looking contracts.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1995/010
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1995/010/001.1995.issue-010-en.xml
|z IMF e-Library
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