search query: @indexterm pay / total: 1509
reference: 446 / 1509
Author: | Lawler, P. |
Title: | Centralised wage setting, inflation contracts, and the optimal choice of central banker |
Journal: | Economic Journal
2000 : APR, VOL. 110:463, p. 559-575 |
Index terms: | Central banks Centralisation Inflation policy Pay |
Language: | eng |
Abstract: | The paper examines the appropriate design of central banking institutions in an economy in which the nominal wage is set by an inflation-averse monopoly union as a positive mark-up over its market-clearing value. The analysis considers both the optimal choice of central banker and the potential role for a linear inflation contract. |
SCIMA