Wage Moderation in Crises

The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive for that economy and for the entire euro area. If all crisis-hit economies undertake wage moderation t...

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Hauptverfasser:	Raphael A. Espinoza, Susanna Mursula, Mr. Antonio Spilimbergo, Paulo A. Medas, Mr. Daniel Leigh, Mr. Ioannis Halikias, Mr. Prakash Loungani, Jörg Decressin, Mr. Michael Kumhof, Mr. Jörg Decressin, Raphael Espinoza, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo Medas, Antonio Spilimberg
Format:	Buch
Sprache:	eng
Online-Zugang:	Volltext
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