Macroeconomic Performance Under Alternative Exchange Rate Regimes : Does Wage Indexation Matter?

Does Wage Indexation Matter?

Macroeconomic Performance Under Alternative Exchange Rate Regimes : Does Wage Indexation Matter?
This paper reexamines the macroeconomic effects of wage indexation in an open economy under alternative exchange rate regimes. The main finding is that, once the lags in actual indexation rules are considered, wage indexation affects output behavior substantially less than posited in the previous academic literature. This result implies that the... READ MORE...

Publication date: August 1998
ISBN 9781451941036
$15.00

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