Some macroeconomic implications of wage indexation: a survey

John Hawkins, Jerome Fahrer, Jeffrey Carmichael

Research output: A Conference proceeding or a Chapter in BookChapter

Abstract

The stylized model of the small, open economy has been the subject of a great deal of theoretical analysis. At the empirical level, of course, there are important differences in the economic position and policy experience of individual countries. At least four differences seem to be of major importance: degree of openness, vulnerability to particular kinds of external shocks, institutional factors, and policy responses. Obviously, it is of considerable potential interest to compare the experience of different countries with a view to learning the lessons of developments over the past fifteen years. In particular, it is useful to see to what extent rigidities-caused by institutional factors, behavioural patterns or past policy measures-have influenced the adjustment process and thereby either hampered or facilitated the implementation of effective policies. People have chosen for this purpose four countries: Austria, Canada and Sweden a more or less random selection of open economies whose experience, though similar in some respects, has differed widely in others.
Original languageEnglish
Title of host publicationInflation and Unemployment: Theory, Experience and Policy Making
EditorsVictor Argy, John Nevile
Place of PublicationOxford
PublisherRoutledge
Chapter5
Pages78-103
Number of pages25
ISBN (Print)9781138659162
Publication statusPublished - 1985

Fingerprint

Wage indexation
Macroeconomics
Institutional factors
External shocks
Openness
Vulnerability
Open economy
Adjustment process
Canada
Policy responses
Policy measures
Theoretical analysis
Economics
Austria
Rigidity
Small open economy
Sweden

Cite this

Hawkins, J., Fahrer, J., & Carmichael, J. (1985). Some macroeconomic implications of wage indexation: a survey. In V. Argy, & J. Nevile (Eds.), Inflation and Unemployment: Theory, Experience and Policy Making (pp. 78-103). Oxford: Routledge.
Hawkins, John ; Fahrer, Jerome ; Carmichael, Jeffrey. / Some macroeconomic implications of wage indexation: a survey. Inflation and Unemployment: Theory, Experience and Policy Making. editor / Victor Argy ; John Nevile. Oxford : Routledge, 1985. pp. 78-103
@inbook{05391995f3c44589820937632aa29215,
title = "Some macroeconomic implications of wage indexation: a survey",
abstract = "The stylized model of the small, open economy has been the subject of a great deal of theoretical analysis. At the empirical level, of course, there are important differences in the economic position and policy experience of individual countries. At least four differences seem to be of major importance: degree of openness, vulnerability to particular kinds of external shocks, institutional factors, and policy responses. Obviously, it is of considerable potential interest to compare the experience of different countries with a view to learning the lessons of developments over the past fifteen years. In particular, it is useful to see to what extent rigidities-caused by institutional factors, behavioural patterns or past policy measures-have influenced the adjustment process and thereby either hampered or facilitated the implementation of effective policies. People have chosen for this purpose four countries: Austria, Canada and Sweden a more or less random selection of open economies whose experience, though similar in some respects, has differed widely in others.",
keywords = "wages, indexation",
author = "John Hawkins and Jerome Fahrer and Jeffrey Carmichael",
year = "1985",
language = "English",
isbn = "9781138659162",
pages = "78--103",
editor = "Victor Argy and John Nevile",
booktitle = "Inflation and Unemployment: Theory, Experience and Policy Making",
publisher = "Routledge",
address = "United Kingdom",

}

Hawkins, J, Fahrer, J & Carmichael, J 1985, Some macroeconomic implications of wage indexation: a survey. in V Argy & J Nevile (eds), Inflation and Unemployment: Theory, Experience and Policy Making. Routledge, Oxford, pp. 78-103.

Some macroeconomic implications of wage indexation: a survey. / Hawkins, John; Fahrer, Jerome ; Carmichael, Jeffrey.

Inflation and Unemployment: Theory, Experience and Policy Making. ed. / Victor Argy; John Nevile. Oxford : Routledge, 1985. p. 78-103.

Research output: A Conference proceeding or a Chapter in BookChapter

TY - CHAP

T1 - Some macroeconomic implications of wage indexation: a survey

AU - Hawkins, John

AU - Fahrer, Jerome

AU - Carmichael, Jeffrey

PY - 1985

Y1 - 1985

N2 - The stylized model of the small, open economy has been the subject of a great deal of theoretical analysis. At the empirical level, of course, there are important differences in the economic position and policy experience of individual countries. At least four differences seem to be of major importance: degree of openness, vulnerability to particular kinds of external shocks, institutional factors, and policy responses. Obviously, it is of considerable potential interest to compare the experience of different countries with a view to learning the lessons of developments over the past fifteen years. In particular, it is useful to see to what extent rigidities-caused by institutional factors, behavioural patterns or past policy measures-have influenced the adjustment process and thereby either hampered or facilitated the implementation of effective policies. People have chosen for this purpose four countries: Austria, Canada and Sweden a more or less random selection of open economies whose experience, though similar in some respects, has differed widely in others.

AB - The stylized model of the small, open economy has been the subject of a great deal of theoretical analysis. At the empirical level, of course, there are important differences in the economic position and policy experience of individual countries. At least four differences seem to be of major importance: degree of openness, vulnerability to particular kinds of external shocks, institutional factors, and policy responses. Obviously, it is of considerable potential interest to compare the experience of different countries with a view to learning the lessons of developments over the past fifteen years. In particular, it is useful to see to what extent rigidities-caused by institutional factors, behavioural patterns or past policy measures-have influenced the adjustment process and thereby either hampered or facilitated the implementation of effective policies. People have chosen for this purpose four countries: Austria, Canada and Sweden a more or less random selection of open economies whose experience, though similar in some respects, has differed widely in others.

KW - wages

KW - indexation

UR - https://www.taylorfrancis.com/books/9781315620381

M3 - Chapter

SN - 9781138659162

SP - 78

EP - 103

BT - Inflation and Unemployment: Theory, Experience and Policy Making

A2 - Argy, Victor

A2 - Nevile, John

PB - Routledge

CY - Oxford

ER -

Hawkins J, Fahrer J, Carmichael J. Some macroeconomic implications of wage indexation: a survey. In Argy V, Nevile J, editors, Inflation and Unemployment: Theory, Experience and Policy Making. Oxford: Routledge. 1985. p. 78-103