search query: @indexterm INFLATION POLICY / total: 17
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| 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. |
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