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Wage Indexation, the Scandinavian Model and Macroeconomic Stability
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies. Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1979 (English)Report (Other academic)
Abstract [en]

The article analyzes wage indexation in an open economy as a means of promoting macroeconomic stability in the case of domestic demand and foreign price shocks. Employment can be stabilized by linking wages to an index of both traded and non-traded goods. But this index is not likely to coincide with the producer or the consumer price index. A "Scandinavian" wage indexation-linking wages to the price of traded goods only as in the Scandinavian model of wage formation - minimizes the effects in the trade balance but does this at the cost of variations in total employment.

Place, publisher, year, edition, pages
Stockholm: IIES , 1979. , 34 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 127
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41411OAI: oai:DiVA.org:su-41411DiVA: diva2:330043
Available from: 2010-07-15 Created: 2010-07-14 Last updated: 2010-07-15Bibliographically approved

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
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  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf