Publikation: Information Content of Wages and Monetary Policy
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2007
Autor:innen
Gersbach, Hans
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Journal of Money, Credit and Banking. 2007, 39(1), pp. 133-149. ISSN 0022-2879. eISSN 1538-4616. Available under: doi: 10.1111/j.0022-2879.2007.00006.x
Zusammenfassung
We examine whether it is sufficient for central banks to observe and forecast nominal variables only. Analyzing the interplay of wage-setting unions and a central bank we show that although central banks may not gain more information by directly acquiring data about indicators of real shocks in the economy, such activities are nevertheless beneficial for central banks and yield lower social losses. Moreover, the extent of research activities by central banks should depend on the process of union formation.
Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
330 Wirtschaft
Schlagwörter
central banks, wage bargaining, information asymmetries, indicators for monetary policy, controlling inflation
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GERSBACH, Hans, Volker HAHN, 2007. Information Content of Wages and Monetary Policy. In: Journal of Money, Credit and Banking. 2007, 39(1), pp. 133-149. ISSN 0022-2879. eISSN 1538-4616. Available under: doi: 10.1111/j.0022-2879.2007.00006.xBibTex
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title={Information Content of Wages and Monetary Policy},
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issn={0022-2879},
journal={Journal of Money, Credit and Banking},
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author={Gersbach, Hans and Hahn, Volker}
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