The Effects of Forward-Versus Backward-Looking Wage Indexationon Price Stabilization Programs
The Effects of Forward-Versus Backward-Looking Wage Indexationon Price Stabilization Programs

Author: Mr.Joe Crowley

Publisher: International Monetary Fund

Published: 1997-04-01

Total Pages: 35

ISBN-13: 1451845650

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A standard open-economy model is used to show that price stabilization programs are more likely to succeed if labor contracts specify forward-looking wage indexation. Compared with contracts specifying backward-looking wage indexation or wages based on static expectations, such contracts will result in a greater reduction in inflation with lower output costs, smaller misalignment of real wages, smaller outflows of reserves, smaller disruptions caused by policy announcements, and a reduced impact of some shocks during price stabilization programs. These results are generally true whether or not capital is mobile and whether or not expectations are rational.

NBER Macroeconomics Annual 1995
NBER Macroeconomics Annual 1995

Author: Ben S. Bernanke

Publisher: MIT Press

Published: 1996

Total Pages: 364

ISBN-13: 9780262522052

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Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.

IMF Staff papers, Volume 44 No. 3
IMF Staff papers, Volume 44 No. 3

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1997-01-01

Total Pages: 120

ISBN-13: 1451973462

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This paper studies the case of Mexico to examine determinants of banking system fragility. The paper tests empirically the proposition that bank fragility is determined by bank-specific factors, macroeconomic conditions, and potential contagion effects. The methodology allows the variables that determine bank failure to differ from those that influence banks’ time to failure (or survival rate). Based on the indicators of fragility of individual banks, the paper constructs an index of fragility for the banking system. The framework is applied to the Mexican financial crisis that began in 1994.

The Third Dimension of Labor Markets
The Third Dimension of Labor Markets

Author: Francisco Galrão Carneiro

Publisher: Nova Publishers

Published: 2006

Total Pages: 278

ISBN-13: 9781594545986

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Focuses on the relationship between labour market institutions, its functioning and outcomes.

What Drives Prices in Egypt?
What Drives Prices in Egypt?

Author: Hanaa Kheir-El-Din

Publisher: American University in Cairo Press

Published: 2009-10-01

Total Pages: 232

ISBN-13: 1617973858

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Since 2004, economic reforms in Egypt have led to robust expansion, a healthy external position, and enhanced investor confidence. But despite these positive macroeconomic developments, inflation has been steadily rising. Does fiscal policy threaten price stability? Does wage growth in the Egyptian economy lead price inflation, or is it the reverse? In this volume, these and other questions are examined by contributors who participated in a conference held in Cairo in late 2007. Here is a coherent and comprehensive analysis of the factors driving prices in Egypt, in an attempt to find a satisfactory balance between prices and economic growth. While Egypt is the focus of the analysis, the papers draw upon the relevant literature, and international experience, the findings can be applied to other middle-income economies. This timely study helps to explain the complex issues facing economists and policymakers, with proposals for reform. Contributors: Hala Abou-Ali, Hala Fares, Omneia A. Helmy, Alaa Ibrahim, Hanaa Kheir-El-Din, Rania Al-Mashat, Diaa Noureldin, Klaus Schmidt-Hebbel, and Sherine Al-Shawarby.

Luxembourg
Luxembourg

Author: International Monetary

Publisher: International Monetary Fund

Published: 2023-05-24

Total Pages: 26

ISBN-13:

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Selected Issues

What Drives Prices in Egypt?
What Drives Prices in Egypt?

Author:

Publisher: Oxford University Press

Published: 2009

Total Pages: 263

ISBN-13: 9774163036

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Since 2004, economic reforms in Egypt have led to robust expansion, a healthy external position, and enhanced investor confidence. But despite these positive macroeconomic developments, inflation has been steadily rising. Does fiscal policy threaten price stability? Does wage growth in the Egyptian economy lead price inflation, or is it the reverse? In this volume, these and other questions are examined by contributors who participated in a conference held in Cairo in late 2007. Here is a coherent and comprehensive analysis of the factors driving prices in Egypt, in an attempt to find a satisfactory balance between prices and economic growth. While Egypt is the focus of the analysis, the papers draw upon the relevant literature, and international experience, the findings can be applied to other middle-income economies. This timely study helps to explain the complex issues facing economists and policymakers, with proposals for reform. Contributors: Hala Abou-Ali, Hala Fares, Omneia A. Helmy, Alaa Ibrahim, Hanaa Kheir-El-Din, Rania Al-Mashat, Diaa Noureldin, Klaus Schmidt-Hebbel, and Sherine Al-Shawarby.

Stopping High Inflation
Stopping High Inflation

Author: Mr.Carlos A. Végh Gramont

Publisher: International Monetary Fund

Published: 1991-11-01

Total Pages: 72

ISBN-13: 1451946724

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The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

IMF Survey
IMF Survey

Author: International Monetary Fund. External Relations Dept.

Publisher: International Monetary Fund

Published: 1997-01-01

Total Pages: 458

ISBN-13: 1451937504

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The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx

IMF Staff papers
IMF Staff papers

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1996-01-01

Total Pages: 208

ISBN-13: 1451947224

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This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on the flexibility of the labor market and the evidence regarding the wage and employment effects of trade reform are discussed next. The last part of the paper identifies a variety of issues that may require further investigation.