Abstract
This note studies the optimal degree of wage indexation in the presence of real shocks. Contrary to what is indicated in the literature, it is demonstrated that the optimal degree of indexation is not limited to (0;1) but may take any value in (-∞;∞).
Original language | English |
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Pages (from-to) | 51-53 |
Number of pages | 3 |
Journal | Economics Letters |
Volume | 7 |
Issue number | 1 |
DOIs | |
State | Published - 1 Jan 1981 |
Externally published | Yes |
ASJC Scopus subject areas
- Finance
- Economics and Econometrics