haku: @author Cooper, R. / yhteensä: 94
viite: 59 / 94
| Tekijä: | Cooper, R. |
| Otsikko: | Predermined wages and prices and the impact of expansionary government policy |
| Lehti: | Review of Economic Studies
1990 : APR, VOL. 57:2, p. 205-214 |
| Asiasana: | MONETARY ECONOMICS GOVERNMENT POLICY PRICES EQUILIBRIUM ANALYSIS |
| Kieli: | eng |
| Tiivistelmä: | The monetary equilibria of an economy with commodity and labour contracts are analysed. If government policy is not "too variable" there may exist an equilibrium with predetermined wages and prices. In this equilibrium, observed changes in the money supply to finance government purchases have persistent real effects. Theoretical support is also provided for an inverse relationship between the degree of indexation in contracts and the persistence of policy effects. |
SCIMA