High 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 کاملInvoluntary unemployment, macroeconomic policy, and a behavioral model of the firm: Why high real wages need not cause high unemployment
The perspective of modern macroeconomic theory, be it new classical or old and new Keynesian, is that unemployment can be reduced only if real wages are cut. The modern Keynesians, basing themselves upon the microfoundations of efficiency wage theory, argue that real wages cannot and will not be cut by firms for efficiency wage reasons. This generates involuntary unemployment based on a market ...
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...
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ژورنال
عنوان ژورنال: Relations industrielles
سال: 1970
ISSN: 0034-379X,1703-8138
DOI: 10.7202/028157ar