Ajustes discontinuos de salarios, inflación y fluctuaciones económicas
If nominal wages adjust less frequently than prices, a constant rate of growth of the quantity of money will produce cyclical fluctuations of production and inflation. The same phenomenon can modify the average long run production of the economy, generating Phillips curves sometimes with a negative slope and some other times with a positive slope.
Volume (Year): 17 (2002)
Issue (Month): 1 ()
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- Gray, Jo Anna, 1976. "Wage indexation: A macroeconomic approach," Journal of Monetary Economics, Elsevier, vol. 2(2), pages 221-235, April.
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"The Wage Price Spiral,"
400, Massachusetts Institute of Technology (MIT), Department of Economics.
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- Danziger, Leif, 1992. "On the Prevalence of Labor Contracts with Fixed Duration," American Economic Review, American Economic Association, vol. 82(1), pages 195-206, March.
- Eytan Sheshinski & Yoram Weiss, 1977. "Inflation and Costs of Price Adjustment," Review of Economic Studies, Oxford University Press, vol. 44(2), pages 287-303.
- N. Gregory Mankiw, 1985. "Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly," The Quarterly Journal of Economics, Oxford University Press, vol. 100(2), pages 529-538.
- William Poole, 1970. "Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model," The Quarterly Journal of Economics, Oxford University Press, vol. 84(2), pages 197-216.
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