The Wage-Price Spiral : Industrial Country Evidence and Implications »
Journal Issue
Volume/Issue: 2003/164
Series: IMF Working Papers
Author(s): Magda Kandil
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2003
DOI: http://dx.doi.org/10.5089/9781451858013.001
ISBN: 9781451858013
Keywords: Wage-Price Spiral, Asymmetric Fluctuations, Output Effect, Standard of Living, wage, aggregate demand, inflation, wage-price, Output-Effect,
Using quarterly time-series data for a sample of twelve industrial countries, the paper investigates the dynamics of nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrat...