A Wages Policy
نویسندگان
چکیده
منابع مشابه
Wages, Flexible Exchange Rates, and Macroeconomic Policy*
In an open economy with a floaLing exchange rate, the efficacy of fiscal and monetary policy depends fundamentally on the wage-setting pnxiess. In the canonical models of Mundell and Fleming, monetary expansion raises output via an exchange rate depreciation, while fiscal expansion has no output effect. These results hold only when real wages can be altered by exchange rate movements; if the re...
متن کاملEmployment, Wages and Optimal Monetary Policy
We study optimal monetary policy when the empirical evidence leaves the policymaker uncertain whether the true data-generating process is given by a model with sticky wages or a model with search and matching frictions in the labor market. Unless the policymaker is almost certain about the search and matching model being the correct data-generating process, the policymaker chooses to stabilize ...
متن کاملReviews Minimum Wages and Poverty: An Evaluation of Policy
One of the problems with the economic analysis of social policy is the tendency of researchers to consider policies in isolation from one another. Although Econlit contains over 2000 articles and books on minimum wages, and over 150 on Earned Income Tax Credits (EITCs), only 20 articles or books deal with the two topics together. Although this ‘silo’ approach encourages in-depth analysis of ind...
متن کاملMinimum Wages and Poverty : An Evaluation of Policy
One of the problems with the economic analysis of social policy is the tendency of researchers to consider policies in isolation from one another. Although Econlit contains over 2000 articles and books on minimum wages, and over 150 on Earned Income Tax Credits (EITCs), only 20 articles or books deal with the two topics together. Although this ‘silo’ approach encourages in-depth analysis of ind...
متن کاملOptimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State∗
Erceg et al. (2000) show that when both wages and prices are sticky, maximization of expected utility is equivalent to minimizing a loss function with three terms, involving measures of the variability of wage inflation, price inflation and the output gap respectively. Here we generalize their analysis, most importantly by not assuming the existence of output and employment subsidies that elimi...
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ژورنال
عنوان ژورنال: Nature
سال: 1958
ISSN: 0028-0836,1476-4687
DOI: 10.1038/181162a0