Michael Kumhof: 2 books
by Jörg Decressin, Ioannis Halikias, Michael Kumhof
Language: English
Release Date: November 17, 2015
Language: English
Release Date: November 17, 2015
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,...
by Jaewoo Mr. Lee, Douglas Mr. Laxton, Michael Mr. Kumhof
Language: English
Release Date: March 6, 2009
Language: English
Release Date: March 6, 2009