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|z 9781513537009
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|a 2617-6750
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|a BD-DhAAL
|c BD-DhAAL
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|a Decressin, Jorg.
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|a Wage Moderation in Crises :
|b Policy Considerations and Applications to the Euro Area /
|c Jorg Decressin, Raphael Espinoza, Ioannis Halikias, Michael Kumhof.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2015.
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|a 1 online resource (36 pages)
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|a Staff Discussion Notes
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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 The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy and for the entire euro area. If all crisis-hit economies undertake wage moderation together, their output still expands, albeit to a lesser degree. If the wage moderation is accompanied by cuts in policy interest rates by the central bank-and by quantitative easing once interest rates hit the zero lower bound-then output for the entire euro area expands as well.
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|a Mode of access: Internet
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|a Espinoza, Raphael.
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|a Halikias, Ioannis.
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|a Kumhof, Michael.
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|a Staff Discussion Notes; Staff Discussion Notes ;
|v No. 2015/022
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/006/2015/022/006.2015.issue-022-en.xml
|z IMF e-Library
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