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 Tax Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Vietnam: Transition to a Market Economy by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, September 2001 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Philippines: Toward Sustainable and Rapid Growth by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, March 1976 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book The Crisis and Miss Emily's Perceptions by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Administering Fiscal Regimes for Extractive Industries by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Public Financial Management and Its Emerging Architecture by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, September 1979 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, December 1965 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Macroeconomic Models for Adjustment in Developing Countries by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Does Excess Liquidity Pose a Threat in Japan? by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Macroprudential Policy in the GCC Countries by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Finance & Development, March 2001 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Government Financial Management: Issues and Country Studies 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