Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area

Policy Considerations and Applications to the Euro Area

Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area
The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy and for the entire euro area. If all crisis-hit economies undertake wage moderation together, their output still expands, albeit to... READ MORE...

Publication date: November 2015
ISBN 9781513537009
$10.00

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