Are Wages Forward Looking?
This paper presents a study of U.K. earnings over the period 1967-87 aimed at establishing whether wagesetters anticipate future movements in prices. Two models are proposed: the first where agents form rational predictions about future price movements and the second where they use simple rules-of-t...
| Main Authors: | , |
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| 格式: | Journal article |
| 語言: | English |
| 出版: |
1994
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