Wage Moderation in Crises

Business & Finance, Economics, Money & Monetary Policy
Cover of the book Wage Moderation in Crises by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo, INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo ISBN: 9781513580227
Publisher: INTERNATIONAL MONETARY FUND Publication: November 17, 2015
Imprint: Language: English
Author: Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
ISBN: 9781513580227
Publisher: INTERNATIONAL MONETARY FUND
Publication: November 17, 2015
Imprint:
Language: English
The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy and for the entire euro area. If all crisis-hit economies undertake wage moderation together, their output still expands, albeit to a lesser degree. If the wage moderation is accompanied by cuts in policy interest rates by the central bank—and by quantitative easing once interest rates hit the zero lower bound—then output for the entire euro area expands as well.
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy and for the entire euro area. If all crisis-hit economies undertake wage moderation together, their output still expands, albeit to a lesser degree. If the wage moderation is accompanied by cuts in policy interest rates by the central bank—and by quantitative easing once interest rates hit the zero lower bound—then output for the entire euro area expands as well.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Regional Economic Outlook: Europe, October 2009 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Modernizing Cash Management (EPub) (PDF Download) by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, June 2004 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book World Economic Outlook, October 2012: Coping with High Debt and Sluggish Growth (EPub) by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Economic Adjustment in Low-Income Countries: Experience Under the Enhanced Structural Adjustment Facility by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book International Capital Markets: Developments and Prospects, 1983 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, December 1998 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Commitment Controls (EPub) (PDF Download) by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book The New Approach to Sovereign Debt Restructuring: Setting the Incentives Right by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Determinants and Systemic Consequences of International Capital Flows by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Rules-Based Fiscal Policy in France, Germany, Italy and Spain by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Inflation and Growth in China by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Unlocking Female Employment Potential in Europe by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, June 1994 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Pension Reform, Investment Restrictions and Capital Markets by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy