The Optimal Mix of Wage Indexation and Foreign Exchange Market Intervention
AbstractThis paper develops a model in which wage indexation and foreign exchange market intervention can be used simultaneously for policy purposes. With the type of wage indexation used, there is shown to be a clear separation of function between the two instruments. Intervention should be used only to offset demand-side disturbances, while indexation should depend upon both demand and supply disturbances. Copyright 1988 by Ohio State University Press.
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Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 20 (1988)
Issue (Month): 3 (August)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
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- Kilponen, Juha & Mayes, David & Vilmunen, Jouko, 1999.
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