TY  - BOOK
AU  - Braumann,Benedikt
TI  - High inflation and real wages
T2  - IMF working paper
U1  - 332.415 21
PY  - 2001///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - INFLACION SALARIAL
KW  - POBREZA
KW  - MODELO DE HECKSCHER-OHLIN
N1  - Bibliografía: p. 22-23; 1. Introduction -- 2. Intuition -- 3. The model -- 4. The effects of inflation -- 5. Real wages and poverty -- 6. Conclusions
N2  - 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
UR  - http://www.imf.org/external/pubs/ft/wp/2001/wp0150.pdf
ER  -