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On optimal wage indexation when shocks are real |
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| Authors: | Leif Danziger |
| Affiliation: | Tel-Aviv University, Ramat-Aviv, Tel-Aviv, Israel |
| Abstract: | This note studies the optimal degree of wage indexation in the presence of real shocks. Contrary to what is indicated in the literature, it is demonstrated that the optimal degree of indexation is not limited to (0;1) but may take any value in (-∞;∞). |
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