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- W2007598199 abstract "Abstract This paper estimates the income redistribution among different sectors of society that results from a government disinflation policy. A model of wage setting in the U.S. economy is developed and then simulated for alternative money growth paths and private-sector behavioral parameters. It is found that a sudden change in monetary policy can cause significantly more income redistribution than a slow monetary deceleration. The paper concludes that a monetary policy rule which generates greater price stability may encourage a wage-setting rule in which wages are more responsive to monetary policy." @default.
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- W2007598199 date "1987-03-01" @default.
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- W2007598199 title "Income redistribution during a disinflation" @default.
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- W2007598199 doi "https://doi.org/10.1016/0164-0704(87)90041-3" @default.
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