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150128 ||| eng |
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|a 9781451842647
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| 100 |
1 |
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|a Agénor, Pierre-Richard
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| 245 |
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0 |
|a Wage Contracts, Capital Mobility, and Macroeconomic Policy
|c Pierre-Richard Agénor
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1995
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| 300 |
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|a 32 pages
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| 651 |
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4 |
|a Japan
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| 653 |
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|a Income economics
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| 653 |
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|a International trade
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| 653 |
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|a International economics
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| 653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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| 653 |
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|a Open Economy Macroeconomics
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| 653 |
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|a Real wages
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Wages
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Exports
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| 653 |
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|a Trade: General
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| 653 |
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|a Saving
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| 653 |
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|a National accounts
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| 653 |
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|a Wealth
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| 653 |
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|a Economics
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| 653 |
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|a Consumption
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| 653 |
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|a Currency
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Real exchange rates
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| 653 |
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|a Wages, Compensation, and Labor Costs: General
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Labour
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Labor
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451842647.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/1995/010/001.1995.issue-010-en.xml?cid=1306-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper examines the long-run effects of macroeconomic policy shocks on the behavior of output, inflation, real wages and the real exchange rate in a small open economy. The analysis is based on a two-sector, three-good optimizing model with imperfect capital mobility, nominal wage contracts with backward- or forward-looking price expectations, and endogenous mark-up pricing in the nontraded goods sector. The effects of a cut in government spending on nontraded goods are shown to be independent of the expectational mechanism embedded in wage contracts. A reduction in the nominal devaluation rate lowers steady-state output in the tradable sector under backward-looking contracts, but exerts an expansionary effect under forward-looking contracts
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