High inflation and real wages / prepared by Benedikt Braumann.
Tipo de material:
TextoSeries IMF working paper ; no. WP/01/50Detalles de publicación: Washington, D.C. : International Monetary Fund, 2001Descripción: 23 pTema(s): Clasificación CDD: - 21 332.415
| Tipo de ítem | Biblioteca actual | Signatura topográfica | Estado | Fecha de vencimiento | Código de barras | |
|---|---|---|---|---|---|---|
Documento
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Biblioteca Manuel Belgrano | F 332.415 B 20810 (Navegar estantería(Abre debajo)) | Disponible | 20810 F |
Bibliografía: p. 22-23.
1. Introduction -- 2. Intuition -- 3. The model -- 4. The effects of inflation -- 5. Real wages and poverty -- 6. Conclusions.
This paper suggests a simple general equilibrium explanation, without relying on nominal rigidities. It presents an intertemporal two-sector model with a cash-in-advance constraint. In this setting, inflation reduces real wages through (1) a decline of the capital stock, and (2) a shift in relative prices. The two effects are additive and make the decline in real wages exceed the decline in per-capita GDP. This mechanism may contribute to rising poverty during periods of high inflation.
Donación Banco Central de la República Argentina
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