haku: @author Selgin, G. / yhteensä: 4
viite: 3 / 4
| Tekijä: | Fred, F. Selgin, G. |
| Otsikko: | The dependency of wage contracts on monetary policy |
| Lehti: | Journal of Institutional and Theoretical Economics
1995 : DEC, VOL. 151:4, p. 658-676 |
| Asiasana: | MONETARY POLICY PAY CONTRACTS |
| Kieli: | eng |
| Tiivistelmä: | In response to the new-classical argument that anticipated monetary policy is ineffective, one New-Keynesian rebuttal posits sticky wages stemming from long-term labour contracts. The authors argue here that such fixed-wage contracts may reflect stabilization policy itself. Using an illustrative quantitative model, implemented by a computer program that computes the game payoffs, the authors analyze wage-contract strategies that could arise in response to various monetary policy strategies. |
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