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Can Wages Be Universally Indexed?

In: International Money and the Real World

Author

Listed:
  • Paul Davidson

    (University of Tennessee)

Abstract

Those who advocate universal indexing of money-wage contracts are implying that, by contract, money wages can be made sticky in terms of some commodity standard. If it is feasible to have universal indexing of money wages, then the question still remains as to which commodity standard should wages be geared to, e.g., an international commodity market basket or a domestic commodity standard. What would be the operational effects of such a legal modification of the existing law of money contracts on the operation of an entrepreneur economy?

Suggested Citation

  • Paul Davidson, 1992. "Can Wages Be Universally Indexed?," Palgrave Macmillan Books, in: International Money and the Real World, edition 0, chapter 10, pages 187-202, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37809-4_10
    DOI: 10.1057/9780230378094_10
    as

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