| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2603 |
| DP2603 Gender Wage Differentials in a Competitive Labour Market: The Household Interaction Effect | |
| Jan C. van Ours; Patrick Francois | |
| 发表日期 | 2000-11-28 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | A representative agent who is employed chooses an optimal degree of wage indexation (to prices and the auction wage) in response to the monetary regime. Should that regime target the growth rate or the level of the money supply, or of prices (as in a commodity standard)? We find that, contrary to the usual finding from macroeconomic models with fixed wage contract structures, there are gains in welfare for the average household, with both real wages and employment being stabilized. The reason is that when the monetary regime shifts to targeting levels, indexation falls markedly; this flattens the aggregate supply curve and steepens the aggregate demand curve, providing a high degree of ?automatic? stabilization. The choice between targeting money or prices creates a trade-off between employment and real wage stability-implying a distributional conflict between insiders and outsiders in the labour market. |
| 主题 | International Macroeconomics |
| 关键词 | Monetary rules Price level targeting Interest rate setting Inflation targeting |
| URL | https://cepr.org/publications/dp2603 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531670 |
| 推荐引用方式 GB/T 7714 | Jan C. van Ours,Patrick Francois. DP2603 Gender Wage Differentials in a Competitive Labour Market: The Household Interaction Effect. 2000. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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