The Optimal Mix of Wage Indexation and Foreign Exchange Market Intervention
This 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.
Volume (Year): 20 (1988)
Issue (Month): 3 (August)
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