Verfügbarkeit: High Inflation and Real Wages

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...

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1. Verfasser:	Braumann, Benedikt (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 2001
Schriftenreihe:	IMF Working Papers Working Paper No. 01/50
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	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 real wages through (1) a decline of the capital stock, and (2) a shift in relative prices. The two effects are additive and make the decline in real wages exceed the decline in per-capita GDP. This mechanism may contribute to rising poverty during periods of high inflation
Beschreibung:	1 Online-Ressource (24 p)
ISBN:	1451846975 9781451846973

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spelling	Braumann, Benedikt Verfasser aut High Inflation and Real Wages Braumann, Benedikt Washington, D.C International Monetary Fund 2001 1 Online-Ressource (24 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 01/50 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 real wages through (1) a decline of the capital stock, and (2) a shift in relative prices. The two effects are additive and make the decline in real wages exceed the decline in per-capita GDP. This mechanism may contribute to rising poverty during periods of high inflation Online-Ausg http://elibrary.imf.org/view/IMF001/03091-9781451846973/03091-9781451846973/03091-9781451846973.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Braumann, Benedikt High Inflation and Real Wages
title	High Inflation and Real Wages
title_auth	High Inflation and Real Wages
title_exact_search	High Inflation and Real Wages
title_exact_search_txtP	High Inflation and Real Wages
title_full	High Inflation and Real Wages Braumann, Benedikt
title_fullStr	High Inflation and Real Wages Braumann, Benedikt
title_full_unstemmed	High Inflation and Real Wages Braumann, Benedikt
title_short	High Inflation and Real Wages
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