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Author:Jadresic, E.
Title:Wage indexation and output stability revisited
Journal:Journal of Money, Credit and Banking
2002 : FEB, VOL. 34:1, p. 178-196
Index terms:INDEXATION
INFLATION
PAY
OUTPUT
STABILIZATION
Language:eng
Abstract:Since Gray (1976) and Fischer (1977), the accepted view is that wage indexation stabilizes output when shocks are nominal and destabilizes output when shocks are real. This paper examines this proposition's validity when wage indexation is based on lagged inflation.
SCIMA record nr: 232055
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