skip to content
Inflation and Wage Dispersion Preview this item
ClosePreview this item
Checking...

Inflation and Wage Dispersion

Author: Daniel S Hamermesh; Allan Drazen; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 1986.
Series: Working paper series (National Bureau of Economic Research), no. w1811.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
A large body of empirical work has demonstrated that higher inflation, especially when it is unexpected, leads to greater dispersion in the distribution of price changes across subaggregates. A sparse and more recent literature suggests exactly the opposite effects on the distribution of wage changes. This study first reconciles these apparently opposite results using a model in which shocks to the economy can  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Daniel S Hamermesh; Allan Drazen; National Bureau of Economic Research.
OCLC Number: 756572868
Description: 1 online resource.
Series Title: Working paper series (National Bureau of Economic Research), no. w1811.
Responsibility: Allan Drazen, Daniel S. Hamermesh.

Abstract:

A large body of empirical work has demonstrated that higher inflation, especially when it is unexpected, leads to greater dispersion in the distribution of price changes across subaggregates. A sparse and more recent literature suggests exactly the opposite effects on the distribution of wage changes. This study first reconciles these apparently opposite results using a model in which shocks to the economy can affect both wages and prices and the demand for indexing. If the positive effect of shocks on the demand for indexing is sufficiently large, the dispersion of changes in wages or prices will be reduced even though the shocks' direct effect is to increase this dispersion. Implicitly from the evidence, this offset is large enough in wage-setting, but not so large in price determination. Additional evidence on the relationship between inflation and the dispersion of wage changes is provided by empirical work for 14 Israeli manufacturing industries, 1956-82. The results suggest that in Israel, just as in the United States (on which previous work has been conducted) with its much less rapid and variable inflation, dispersion also decreased with unexpected price inflation.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/756572868> # Inflation and Wage Dispersion
    a schema:Book, schema:MediaObject, schema:CreativeWork ;
   library:oclcnum "756572868" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/10217553#Place/cambridge_mass> ; # Cambridge, Mass.
   schema:about <http://id.worldcat.org/fast/1169483> ; # Wage-price policy--Mathematical models
   schema:about <http://experiment.worldcat.org/entity/work/data/10217553#Topic/wage_price_policy_mathematical_models> ; # Wage-price policy--Mathematical models
   schema:about <http://id.loc.gov/authorities/subjects/sh2008113337> ; # Wages--Mathematical models
   schema:about <http://id.worldcat.org/fast/1169707> ; # Wages--Mathematical models
   schema:about <http://id.worldcat.org/fast/972466> ; # Inflation (Finance)--Mathematical models
   schema:about <http://id.loc.gov/authorities/subjects/sh85066117> ; # Inflation (Finance)--Mathematical models
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/233261497> ; # Daniel S. Hamermesh
   schema:contributor <http://viaf.org/viaf/245494927> ; # Allan Drazen
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:datePublished "1986" ;
   schema:description "A large body of empirical work has demonstrated that higher inflation, especially when it is unexpected, leads to greater dispersion in the distribution of price changes across subaggregates. A sparse and more recent literature suggests exactly the opposite effects on the distribution of wage changes. This study first reconciles these apparently opposite results using a model in which shocks to the economy can affect both wages and prices and the demand for indexing. If the positive effect of shocks on the demand for indexing is sufficiently large, the dispersion of changes in wages or prices will be reduced even though the shocks' direct effect is to increase this dispersion. Implicitly from the evidence, this offset is large enough in wage-setting, but not so large in price determination. Additional evidence on the relationship between inflation and the dispersion of wage changes is provided by empirical work for 14 Israeli manufacturing industries, 1956-82. The results suggest that in Israel, just as in the United States (on which previous work has been conducted) with its much less rapid and variable inflation, dispersion also decreased with unexpected price inflation."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/10217553> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/10217553#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/10217553#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:name "Inflation and Wage Dispersion"@en ;
   schema:productID "756572868" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/756572868#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_1986> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/10217553#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://www.nber.org/papers/w1811> ;
   schema:url <http://papers.nber.org/papers/w1811> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/756572868> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/10217553#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/10217553#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/10217553#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/756572868> ; # Inflation and Wage Dispersion
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/10217553#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/756572868> ; # Inflation and Wage Dispersion
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://id.loc.gov/authorities/subjects/sh2008113337> # Wages--Mathematical models
    a schema:Intangible ;
   schema:name "Wages--Mathematical models"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh85066117> # Inflation (Finance)--Mathematical models
    a schema:Intangible ;
   schema:name "Inflation (Finance)--Mathematical models"@en ;
    .

<http://id.worldcat.org/fast/1169483> # Wage-price policy--Mathematical models
    a schema:Intangible ;
   schema:name "Wage-price policy--Mathematical models"@en ;
    .

<http://id.worldcat.org/fast/1169707> # Wages--Mathematical models
    a schema:Intangible ;
   schema:name "Wages--Mathematical models"@en ;
    .

<http://id.worldcat.org/fast/972466> # Inflation (Finance)--Mathematical models
    a schema:Intangible ;
   schema:name "Inflation (Finance)--Mathematical models"@en ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/233261497> # Daniel S. Hamermesh
    a schema:Person ;
   schema:familyName "Hamermesh" ;
   schema:givenName "Daniel S." ;
   schema:name "Daniel S. Hamermesh" ;
    .

<http://viaf.org/viaf/245494927> # Allan Drazen
    a schema:Person ;
   schema:familyName "Drazen" ;
   schema:givenName "Allan" ;
   schema:name "Allan Drazen" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.