1 option
Real Wages, Monetary Accommodation, and Inflation / Elhanan Helpman, Leonardo Leiderman.
- Format:
- Book
- Author/Creator:
- Helpman, Elhanan.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3146.
- NBER working paper series no. w3146
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1989.
- Summary:
- We analyze the dynamics of inflation in an economy characterized by a forward-looking, staggered, price and wage determination process, and by monetary accommodation. In our model, inflation reconciles the conflicting claims of workers and firms. The model is capable of generating a positive association between real wages and inflation, of the type that has been observed in some high-inflation countries. It generates a price-wage spiral but does not result in inflationary inertia.
- Notes:
- Print version record
- October 1989.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.