UID:
almafu_9958098762102883
Format:
1 online resource (36 pages)
ISBN:
9786613803481
,
9781462339778
,
1462339778
,
9781452720937
,
1452720932
,
9781282110595
,
1282110594
,
9781451903218
,
1451903219
Series Statement:
IMF Working Papers
Content:
Using quarterly time-series data for a sample of twelve industrial countries, the paper investigates the dynamics of nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage-price spiral and accompanying fluctuations. During economic expansions, the overlap of nominal adjustments in labor and product markets prolongs output expansion while maintaining or increasing the standard of living. In contrast, structural and institutional settings appear to have moderated the severity of the effects of contractionary demand shocks on real output growth and the standard of living in the variety of countries under investigation.
Note:
Bibliographic Level Mode of Issuance: Monograph
,
English
Additional Edition:
ISBN 9781451858013
Additional Edition:
ISBN 1451858019
Language:
English
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