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Wage Indexation, Employment and Inflation
The Scandinavian Journal of Economics, 2000Price versus productivity‐indexing is considered in a model of monetary policy with incomplete information and wage bargaining. In a perfectly price‐indexed economy, the inflationary bias due to lack of credibility is eliminated. However, productivity‐indexing is more appropriate to dampen macroeconomic fluctuations that are caused by real disturbances.
Francesco Drudi, Raffaela Giordano
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Wage Indexation and Compensating Wage Differentials
The Review of Economics and Statistics, 1986A stractThe theory of wage indexation implies that if workers are more risk averse than firms, then workers will pay a price in order to obtain wage indexation. This prediction is tested on a sample of 3,115 U.S. manufacturing collective bargaining negotiations from 1967 to 1982.
Hendricks, Wallace E, Kahn, Lawrence M
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Rural Hospital Wages and the Area Wage Index
Health care financing review, 2002We examined data on hospital hourly wages and the prospective payment system (PPS) wage index from 1990 to 1997, to determine if incremental changes to the index have improved its precision and equity as a regional cost adjuster. The differential between average rural and urban PPS hourly wages has declined by almost one-fourth over the 8-year study ...
Kathleen, Dalton +2 more
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Wage indexation and macroeconomics stability
Carnegie-Rochester Conference Series on Public Policy, 1977openaire +3 more sources
Journal of Political Economy, 1983
The observed practice of contracting for labor services in advance introduces stickiness or friction into the economic system. In the presence of monetary and real stochastic disturbances the stability of the levels of employment and output hinges on the nature of the wage contracts.
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The observed practice of contracting for labor services in advance introduces stickiness or friction into the economic system. In the presence of monetary and real stochastic disturbances the stability of the levels of employment and output hinges on the nature of the wage contracts.
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The Firm, Wage Indexation, and Nominal Wage Rigidity
SSRN Electronic Journal, 2016A new explanation for nominal wage rigidity is proposed when firms, as distinct from representative agents, can index wages. In general, the probability of contractionary monetary and real shocks, either alone or simultaneously, can make any degree of indexation optimal.
James M. Holmes +2 more
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INTEREST RATES AND WAGE INDEXATION
International Economic Journal, 1988This Paper shows that if wages are indexed to intrest rate and price level in a certain combination the effect of monetary disturbances can be removed. Further, it is shown that the indexation coefficients can be optimally chosen so that the effect of real distrubances on output is minimised.
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Discretion, Wage Indexation, and Inflation
Southern Economic Journal, 1991It is now well understood that discretionary policy-making frequently leads to socially sub-optimal outcomes. This point was first made by Kydland and Prescott [12] using an example of a monetary policy "game." They argued that, in the presence of output distortions in the economy, the monetary authority has an incentive to renege on earlier promises ...
David D. Vanhoose, Christopher J. Waller
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Inflation, indexation, and wage dispersion
Economics Letters, 1987Abstract This study provides a theory of indexation to reconcile empirical findings that unanticipated inflation raises the dispersion of price changes among subaggregates while it lowers that of wage changes. Evidence on the relation between inflation and the dispersion of wage changes in Israel is presented to buttress the arguments.
Allan Drazen, Daniel S. Hamermesh
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CONSEQUENCES OF MINIMUM WAGE INDEXING
Contemporary Economic Policy, 1996During the 1980s, the minimum wage fell relative to prices and average wages in the U.S. economy. If the minimum to average wage ratio had been constant at the level maintained through the 1970s, the minimum wage would have been $5.51 in 1993. If the 1993 minimum wage had increased to $5.51, payments to minimum wage workers would have increased by an ...
WILLIAM E. EVEN, DAVID A. MACPHERSON
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