search query: @indexterm MONETARY ECONOMICS / total: 201
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| Author: | Bar-Ilan, A. Seidmann, D.J. |
| Title: | Endogenous contract structure and monetary policy |
| Journal: | European Economic Review
2006 : MAY, VOL. 50:4, p. 1043-1060 |
| Index terms: | indexation monetary economics monetary policy PAY |
| Language: | eng |
| Abstract: | This article examines the relationship between a central bank offsetting shocks with monetary policy and labor contracts chosen by members of the public, who can fix or index their nominal wages. The authors determine the equilibrium as fixed nominal wages allow the central bank to offset productivity shocks, while the public fix nominal wages in response to the action of the central bank. |
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