search query: @author Moghadam, R. / total: 3
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| Author: | Moghadam, R. Wren-Lewis, S. |
| Title: | Are wages forward looking? |
| Journal: | Oxford Economic Papers
1994 : JUL, VOL. 46:3, p. 403-424 |
| Index terms: | UNITED KINGDOM EARNINGS FUTURE |
| Language: | eng |
| Abstract: | This paper presents a study of UK earnings over the period 1967-87 aimed at establishing whether wage setters anticipate future movements in prices. Two models are proposed: the first where agents form rational predictions abuot future price movements, and the second where they use simple rules-of-thumb, based on price movements. Thes two dynamic models , based on the same long-run equation, are compared, drawing on the methods of Hendry. |
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