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- W1521458275 abstract "This paper investigates an economy in which there are short-term wage contracts that are re-negotiated under certain conditions. This paper determines the optimal frequency of wage re-negotiation and shows that it depends positively on measures of aggregate variability and Phillips curve slope. The role of optimal wage re-negotiation is to mitigate the output effects of various shocks. In the context of an open economy, it is shown that the desirable exchange rate regime in an economy with optimal wage re-negotiation depends on the stochastic structure of the economy." @default.
- W1521458275 created "2016-06-24" @default.
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- W1521458275 date "1984-02-01" @default.
- W1521458275 modified "2023-09-27" @default.
- W1521458275 title "Optimal Wage Re-Negotiation" @default.
- W1521458275 doi "https://doi.org/10.3386/w1279" @default.
- W1521458275 hasPublicationYear "1984" @default.
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