The Effects of Forward- Versus Backward-Looking Wage Indexation on Price Stabilization Programs

1997 ◽  
Author(s):  
Joeseph Crowley
2017 ◽  
Vol 30 (2) ◽  
pp. 103-142
Author(s):  
Ilchan Ahn ◽  
◽  
Sung Chae La ◽  
Jong-Ho Park ◽  
Kyong Shik Eom

2009 ◽  
Author(s):  
Antonio Gledson De Carvalho ◽  
Rodrigo Andrade Tolentino

2016 ◽  
Author(s):  
James M. Holmes ◽  
John M. Holmes ◽  
Patricia A. Hutton

1990 ◽  
Vol 63 (2) ◽  
pp. 217 ◽  
Author(s):  
Geoffrey Woglom

2013 ◽  
Vol 20 (10) ◽  
pp. 931-937 ◽  
Author(s):  
A. Signori ◽  
M. Meoli ◽  
S. Vismara

2014 ◽  
Vol 19 (6) ◽  
pp. 1294-1308 ◽  
Author(s):  
Nicola Acocella ◽  
Giovanni Di Bartolomeo ◽  
Patrizio Tirelli

This paper offers a reinterpretation of the Fed's time-varying implicit inflation target, based on two considerations. The first is that the need to alleviate the burden of distortionary taxation may justify the choice of a positive inflation rate. The second is based on compelling evidence that the degree of price and wage indexation falls with trend inflation. In fact, we find that a proper characterization of the joint evolution of fiscal variables and nominal rigidities has a strong impact on the Ramsey optimal policies, implying optimal inflation dynamics that are consistent with the observed evolution of U.S. trend inflation. By contrast, tax policies have been too lax, especially at the time of the controversial Bush tax cuts.


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