RELATIVE PRICES, AGGREGATE PRICES, AND WAGE INDEXATION

被引:8
作者
CARLSON, JA [1 ]
FINDLAY, DW [1 ]
机构
[1] COLBY COLL,DEPT ECON,WATERVILLE,ME 04901
关键词
D O I
10.1016/0148-6195(92)90005-U
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
When a firm and workers set contingent wages and employment, potential movements in several different prices enter into consideration. The firm's revenue depends on the selling price of its product. The workers have concerns about the prices of goods they buy, and the firm's owners may buy a different bundle of goods. Unless owners acquire their own firm's output or are fairly risk-averse relative to workers, wages will be indexed primarily to the price index of what workers buy and not to variations in the firm's selling price. This has been reported to be the typical empirical pattern.
引用
收藏
页码:31 / 45
页数:15
相关论文
共 28 条
[1]  
AIZENMAN J, 1985, AM ECON REV, V75, P402
[2]  
ALGOSKOUFIS GS, 1983, J MONETARY ECON, V11, P117
[3]   IMPLICIT CONTRACTS AND UNDEREMPLOYMENT EQUILIBRIA [J].
AZARIADIS, C .
JOURNAL OF POLITICAL ECONOMY, 1975, 83 (06) :1183-1202
[4]   IMPLICIT CONTRACTS AND FIXED PRICE EQUILIBRIA [J].
AZARIADIS, C ;
STIGLITZ, JE .
QUARTERLY JOURNAL OF ECONOMICS, 1983, 98 :1-22
[5]   WAGES AND EMPLOYMENT UNDER UNCERTAIN DEMAND [J].
BAILY, MN .
REVIEW OF ECONOMIC STUDIES, 1974, 41 (01) :37-50
[6]   LONG-TERM CONTRACTING, STICKY PRICES, AND MONETARY-POLICY [J].
BARRO, RJ .
JOURNAL OF MONETARY ECONOMICS, 1977, 3 (03) :305-316
[7]  
BLINDER AS, 1977, J MONETARY EC S, V5, P69
[8]  
CALMFORS L, 1983, OXFORD ECON PAP, V34, P6547
[9]  
CARD D, 1986, J POLITICAL EC, V94, P144
[10]   THE EFFECTS OF WAGE INDEXATION ON MACROECONOMIC FLUCTUATIONS - A GENERALIZATION [J].
CUKIERMAN, A .
JOURNAL OF MONETARY ECONOMICS, 1980, 6 (02) :147-170