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conclusion is to make wages and the nominal exchange rate anchors for the price level, which implies that nominal wages should … increase according to trends in productivity and the target inflation rate of the central bank. Wage developments without …
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distribution of Italian wages during the 1970s and 1980s. The SM imposed large real wage increases at the bottom of the …
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This volume challenges the view that unemployment is exclusively determined by structural characteristics of the labour market and the social benefit system. Macroeconomic policies and investment in capital stock are included in the analysis and are shown to have a major role to play.
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