Signalling, wage controls and monetary disinflation policy
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Signalling, wage controls and monetary disinflation policy by Torsten Persson

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Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

Subjects:

  • Inflation (Finance) -- Econometric models.,
  • Monetary policy -- Econometric models.,
  • Economic stabilization -- Econometric models.

Book details:

Edition Notes

StatementTorsten Persson, Sweder van Wijnbergen.
SeriesNBER working paper series -- working paper no. 2939, Working paper series (National Bureau of Economic Research) -- working paper no. 2939.
ContributionsWijnbergen, Sweder van, 1951-
The Physical Object
Pagination23 [i.e. 25] p. :
Number of Pages25
ID Numbers
Open LibraryOL22437543M

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Get this from a library! Signalling, Wage Controls and Monetary Disinflation Policy. [Sweder Van Wijnbergen; Torsten Persson; National Bureau of Economic Research.;] -- Wage and price controls have a long and somewhat disreputable history, presumably because of their frequent use in many countries as short run substitutes for measurewith more lasting effects on the. Downloadable (with restrictions)! Wage and price controls have a long and somewhat disreputable history, presumably because of their frequent use in many countries as short run substitutes for measure~ with more lasting effects on the inflation rate. But, in and , Argentina, Brazil, and Israel used extensive wage-price controls as part of more comprehensive disinflation programs. Focuses on wage control and monetary disinflation policy. How the crucial variable to control is the money supply and wage and price controls should be avoided because of their macroeconomic costs; The two types of government as being low-inflation governments and high-inflation governments; How wage controls have microeconomic by: "Signalling, Wage Controls and Monetary Disinflation Policy," Economic Journal, Royal Economic Society, vol. (), pages , January. References listed on IDEAS as.

But, in and , Argentina, Brazil, and Israel used extensive wage-price controls as part of more comprehensive disinflation programs,.often labeled "heterodox" stabilization programs. To date, the Israeli stabilization seems to have succeeded, while the Argentinean and Brazilian stabi1izations have clearly ended in failure. Signalling, Wage Controls and Monetary Disinflation Policy Persson, Torsten Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies. Download PDF: Sorry, we are unable to provide the full text but you may find it at the following location(s): ?si (external link).   Many policymakers and academics recommended a policy of gradualism–reflecting the view that the costs of disinflation were largely due to structural persistence in wage and price setting–while others recommended aggressive monetary tightening on the grounds that the credibility of monetary policy in the s had sunk too low for gradualism.

Signalling, Wage Controls and Monetary Disinflation Policy. Torsten Persson, Sweder van Wijnbergen. The Economic Journal, Volume , Issue , 1 January , Pages 79–97, View article. Monetary policy and disinflation in Israel. The attractive and somewhat unique feature of the book is the case study method, which is rarely applied, in the macroeconomic analysis.   Section 3 ex- amines the role of the intensity of controls in minimizing the policy loss associated with an imperfectly credible monetary, policy. 2. Controls, Time Inconsistency, and Inflation Inertia In this section we set out a model with non-competitive markets and price-setting firms (as in Helpman ) in which the policymaker faces an. 'The Monetary Policy of the Federal Reserve: A History by Robert Hetzel studies the evolution of monetary policy from the beginning of the Federal Reserve until the end of the Greenspan Era. The title claims the book is a history, and it is that, but it is much more.