This article describes early models of indexing as well as more recent models that call for less indexing of wages to prices in order to improve price and output stability. Policymakers may face a tradeoff: although increasing indexation may lead to macroeconomic instability, reducing indexation may lead to greater income inequality and labor market tension. The article concentrates on recent experiences, first in countries that have long histories...
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INFORMATION
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1988/07/31
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Article de revue
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14135
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1
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1
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2000/06/17
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Indexation and stabilization : theory and experience
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interest on government debt
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