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A note on wage indexation in a model with staggered wage setting
Economics Letters, 1985Abstract The purpose of this note is to show that, in the staggered wage setting a la Taylor, exogenous indexation of wages is destabilizing in terms of both prices and output. In a small open economy, the simultaneous application of an exchange rate policy aimed at maintaining purchasing power parity would help in eliminating output variability.
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Real Wages, The Wage Share and Cumulative Wage Indexation following a Currency Devaluation [PDF]
Economic Analysis and Policy (EAP), 1988 Real wage maintenance is shown to be incompatible with a currency devaluation in an N sector model in which production requires imported raw materials. Irrespective of the type of economy and the first round response of price setters the competitive advantage of the devaluation is dissipated, under constant markups, in the long run by the ensuing ...
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Estimating the effects of the minimum wage using the introduction of indexation
Journal of Economic Behavior and Organization, 2021Daiji Kawaguchi, Yuko Mori
exaly
Wage indexation and the monetary policy regime
Journal of Macroeconomics, 2020Gert Peersman +2 more
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Wage Indexes and Price Indexes
Journal of the American Statistical Association, 1924openaire +1 more source
Partial Wage Indexation: An Empirical Test
International Economic Review, 1979Razin, Assaf, Lusky, Judith
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Wage Indexation and Time Consistency.
Journal of Money, Credit and Banking, 1994This note presents a simple model where the decision on the degree of wage indexation is taken by a 'large' agent, such as the government. The optimal degree of indexing is shown to depend on the variance of real shocks and on the 'inflations bias' of the government, due to the incentive to raise employment above the market-clearing level.
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