أعرض تسجيلة المادة بشكل مبسط

dc.creator Holden, Steinar
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:49Z
dc.date.available 2013-10-16T07:01:49Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18890
dc.identifier ppn:39599585X
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18890
dc.description This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage cuts that would have happened had inflation been higher. Second, wages (and prices) are given in nominal contracts, and inflation affects both how often wages are adjusted, and to what extent wages are set in a forward-looking manner. Third, incomplete labour contracts may provide workers with scope for inflicting costs on the firm without violating the contract, thus forcing the firm to accept a rise in nominal wages. Fourth, if effort depends on wages relative to a reference level, and workers and firms underweight inflation when updating the reference level, positive but moderate inflation may reduce wage pressure. The paper ends by a brief survey of empirical evidence, and a discussion of whether labour markets may adapt to a low inflation environment.
dc.language eng
dc.relation CESifo working papers 1252
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J3
dc.subject J5
dc.subject E31
dc.subject ddc:330
dc.subject wage formation
dc.subject nominal contracts
dc.subject inflation
dc.subject Lohntheorie
dc.subject Lohnrigidität
dc.subject Inflation
dc.subject Theorie
dc.title Wage formation under low inflation
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط