Series: IMF Working Papers
Author(s): Jacob Frenkel , and Guillermo Calvo
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 1991
Keywords: exchange rate, wage, foreign exchange, wages, wage indexation
This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the...