International Interdependence and Policy Coordination in Economies with Real and Nominal Wage Rigidity
AbstractThe development of the seven main OECD economies during the 1970s and 1980s is discussed. Subsequently, wage equations of the error-correction type for the seven largest OECD economies are estimated. The hypothesis of real wage rigidity cannot be rejected for the French, German, Italian and Japanese economies, but the Canadian, United Kingdom and United States economies display a significant degree of nominal wage rigidity. An analytical two-country model with floating exchange rates, uncovered interest parity, imperfect substitution between home and foreign goods, and sluggish labor markets is then formulated.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 217.
Date of creation: Dec 1987
Date of revision:
Contact details of provider:
Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- van der Ploeg, Frederick, 1989.
"Fiscal Aspects of Monetary Integration in Europe,"
CEPR Discussion Papers
340, C.E.P.R. Discussion Papers.
- Van Der Ploeg, F., 1990.
"Macroeconomic Policy Coordination During The Various Phases Of Economic And Monetary Integration In Europe,"
9061, Tilburg - Center for Economic Research.
- Ploeg, F. van der, 1990. "Macroeconomic policy coordination during the various phases of economic and monetary integration in Europe," Discussion Paper 1990-61, Tilburg University, Center for Economic Research.
- van de Klundert, Theo & van der Ploeg, Frederick, 1989.
"Fiscal Policy and Finite Lives in Interdependent Economies with Real and Nominal Wage Rigidity,"
Oxford Economic Papers,
Oxford University Press, vol. 41(3), pages 459-89, July.
- Klundert, T.C.M.J. van der & Ploeg, F. van der, 1988. "Fiscal policy and finite lives in interdependent economies with real and nominal wage rigidity," Discussion Paper 1988-1, Tilburg University, Center for Economic Research.
- van Tuijl, Martin A. & de Groof, Robert J. & Kolnaar, Ad H. J., 1997. "Fiscal policy and public capital in interdependent economics," Economic Modelling, Elsevier, vol. 14(2), pages 279-300, April.
- Klundert, T.C.M.J. van de & Ploeg, F. van der, 1987.
"Wage rigidity and capital mobility in an optimizing model of a small open economy,"
277, Tilburg University, Faculty of Economics and Business Administration.
- Klundert, T.C.M.J. van de & Ploeg, F. van der, 1989. "Wage rigidity and capital mobility in an optimizing model of a small open economy," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4860201, Tilburg University.
- van de Klundert, Theo C N J & van der Ploeg, Frederick, 1987. "Wage Rigidity and Capital Mobility in an Optimizing Model of a Small Open Economy," CEPR Discussion Papers 168, C.E.P.R. Discussion Papers.
- Wohltmann, Hans-Werner & Clausen, Volker, 2002. "Foreign price shocks and monetary policy in an asymmetric monetary union," IBES DiskussionsbeitrÃ¤ge 124, University of Duisburg-Essen, Faculty for Economics and Business Administration.
- Ioannis Kaskarelis, 1991. "Output fluctuations with bargained wages and a competitive tradeable goods sector in the economy: Empirical estimates for the group of five, 1970.1 — 1985.4," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 127(1), pages 42-72, March.
- Wohltmann, Hans-Werner & Winkler, Roland C., 2005. "Monetary Policy Dynamics in Large Oil-Dependent Economies," Economics Working Papers 2005,17, Christian-Albrechts-University of Kiel, Department of Economics.
- Volker Clausen & Hans-Werner Wohltmann, 2011. "Oil Price Shocks and Cyclical Dynamics in an Asymmetric Monetary Union," Ruhr Economic Papers 0247, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.