Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department.
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| ISBN: | 1451893051
9781451893052
1281607673
9781281607676
1462347029
9781462347025
1452798729
9781452798721
9786613788382
6613788384
9781451845655
1451845650
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| Notes: | Includes bibliographical references (pages 33-34).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation A standard open-economy model is used to show that price stabilization programs are more likely to succeed if labor contracts specify forward-looking wage indexation. Compared with contracts specifying backward-looking wage indexation or wages based on static expectations, such contracts will result in a greater reduction in inflation with lower output costs, smaller misalignment of real wages, smaller outflows of reserves, smaller disruptions caused by policy announcements, and a reduced impact of some shocks during price stabilization programs. These results are generally true whether or not capital is mobile and whether or not expectations are rational.
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| Other form: | Print version: Crowley, Joe. Effects of forward- versus backward-looking wage indexation on price stabilization programs. [Washington, D.C.] : International Monetary Fund, African Dept., ©1997
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| Standard no.: | 10.5089/9781451893052.001
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