Abstract
In the preceding sections, as a rule, we assumed slow money wages. Now in sections 11 and 12, as an exception, we shall consider the polar cases of flexible and fixed money wages. Let us begin with flexible money wages. As a response to a shock, money wages adjust continuously so as to clear the labour market all the time.
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© 1992 Physica-Verlag Heidelberg
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Carlberg, M. (1992). Flexible Money Wages. In: Monetary and Fiscal Dynamics. Studies in Contemporary Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-47689-1_12
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DOI: https://doi.org/10.1007/978-3-642-47689-1_12
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-0619-9
Online ISBN: 978-3-642-47689-1
eBook Packages: Springer Book Archive