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| Tekijä: | Jadresic, E. |
| Otsikko: | Wage indexation and output stability revisited |
| Lehti: | Journal of Money, Credit and Banking
2002 : FEB, VOL. 34:1, p. 178-196 |
| Asiasana: | INDEXATION INFLATION PAY OUTPUT STABILIZATION |
| Kieli: | eng |
| Tiivistelmä: | 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. |
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