Central Bank Independence and Wage Bargaining Structure - Empirical Evidence
نویسندگان
چکیده
منابع مشابه
Wage Indexation, Central Bank Independence and the Cost of Disinflation
Recently, Fischer [1996] and Posen [1998] demonstrated empirically that countries with less independent central banks enjoy lower output losses during disinflationary cycles. Since independence is presume to provide a credibility bonus to the monetary policy, this conclusion looks surprising. To explain their paradoxical result, these authors put forward that independent central banks probably ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1999
ISSN: 1556-5068
DOI: 10.2139/ssrn.1021244