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 Developments in International Trade Policy 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 Global Financial Stability Report, October 2010 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Fiscal Policy in Open Developing Economies by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book The Conduct of Monetary Policy in the Major industrial Countries: instruments and Operations Procedures - Occa Paper No.70 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Transforming Financial Systems 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 Managing the Oil Revenue Boom: The Role of Fiscal Institutions by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Regional Economic Outlook, October 2014 by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Capacity Building, Governance, and Economic Reform in Africa by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Regional Economic Outlook: Europe (November 2007) by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book United Germany: The First Five Years: Performance and Policy Issues 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 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 Growth and Poverty Reduction in Armenia: Achievements and Challenges by Jörg Decressin, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Susanna Mursula, Antonio Spilimbergo
Cover of the book Current Legal Issues Affecting Central Banks, Volume IV. 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