High Inflation and Real Wages /
Empirical data show that real wages fall sharply during periods of high inflation. This paper suggests a simple general equilibrium explanation, without relying on nominal rigidities. It presents an intertemporal two-sector model with a cash-in-advance constraint. In this setting, inflation reduces...
| Autor principal: | |
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| Formato: | Revista |
| Lenguaje: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2001.
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| Colección: | IMF Working Papers; Working Paper ;
No. 2001/050 |
| Acceso en línea: | Full text available on IMF |