Nominal price and wage adjustment to foreign price changes

Article Abstract:

The interdependence of prices and wages in an open economy with imperfect competitive product and labor market have been modelled integrating the differences in information to a decentralized market economy, where several wage and price decisions are taken under incomplete information. The study showed that nominal wages and prices did not equally adjust to nominal changes even when complete information were introduced into the wage and price formation. It also showed the trade effects of foreign price changes measured in domestic currencies.

Wage Administration, Compensation management, Prices, Wages, Wages and salaries

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Money demand and nominal debt: an equilibrium model of the liquidity effect

Article Abstract:

A model that takes into consideration money demand proves to be effective in analyzing a liquidity effect. The model represents money demand as a function of both current output expenditures and nominal debt-related transactions. Contrary to other liquidity effect models, the model created considers various money supply processes and assumes the existence of flexible prices and a monetary policy that has no effect on the real interest rate or output.

Models, Liquidity (Finance), Macroeconomics, Money demand

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Wage indexation and government intervention under perfect information

Article Abstract:

A symmetric Nash equilibrium was determined after an analysis of endogenous indexation, which was under an environment where monetary authorities are able to deal simultaneously with existing disturbances, was undertaken. The equilibrium was found to be inefficient and unattainable in practice. Nevertheless, no alternative equilibria were identified unless bounds are confined on the value in which the indexation parameter occurs.

Economic indicators, Indexation (Economics)

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