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Efficiency wages, wage indexation and macroeconomic stabilization

✍ Scribed by Christopher J. Waller

Book ID
116100653
Publisher
Elsevier Science
Year
1989
Tongue
English
Weight
279 KB
Volume
30
Category
Article
ISSN
0165-1765

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## Abstract This paper is concerned with the stability of macroeconomic models in which there is no long‐run trade‐off between unemployment and inflation, because of a wage adjustment equation based on the NAIRU concept. It is shown, for a simple theoretical model and for the Bergstrom–Nowman–Wymer