000000792 001__ 792
000000792 005__ 20250211155728.0
000000792 0247_ $$a10.34989/swp-1997-13$$2DOI
000000792 035__ $$a10.34989/swp-1997-13
000000792 041__ $$aeng
000000792 084__ $$aC Mathematical and Quantitative Methods$$02849
000000792 084__ $$aC5 Econometric Modeling$$02889
000000792 084__ $$aC52 Model Evaluation, Validation, and Selection$$02892
000000792 084__ $$aE Macroeconomics and Monetary Economics$$03005
000000792 084__ $$aE2 Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy$$03019
000000792 084__ $$aE24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity$$03024
000000792 084__ $$aE5 Monetary Policy, Central Banking, and the Supply of Money and Credit$$03043
000000792 084__ $$aE50 General$$03044
000000792 245__ $$aWhat Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?
000000792 260__ $$bBank of Canada
000000792 269__ $$a1997
000000792 300__ $$a1 online resource (38 pages)
000000792 336__ $$aText
000000792 347__ $$bPDF
000000792 520__ $$aA recent paper has suggested there might be a trade-off between inflation and unemployment at low inflation rates and this has led some economists to recommend that Canada increase its inflation rate. Underlying this view is the idea that, because firms are reluctant to cut workers' nominal wages, a moderate amount of inflation can be used to facilitate needed reductions in real wages. This paper discusses the link from downward nominal-wage rigidity to unemployment and considers some of the issues that need to be addressed to determine whether a change in Canada's monetary policy is warranted.$$7Abstract
000000792 520__ $$aUn article publié récemment avance une hypothèse susceptible d'expliquer l'existence d'un arbitrage entre le chômage et l'inflation lorsque celle-ci est faible. Certains économistes en ont conclu que les autorités canadiennes devraient permettre une hausse du taux d'inflation. Selon l'hypothèse avancée, comme les entreprises hésitent à réduire les salaires nominaux, la présence d'une inflation modérée pourrait faciliter la diminution des salaires réels quand cela est nécessaire. L'auteur de l'étude analyse le lien entre la rigidité à la baisse des salaires nominaux et le chômage et examine certaines des questions qui doivent être réglées afin d'établir si une modification de la politique monétaire est justifiée.$$7Résumé
000000792 540__ $$aCreative Commons Attribution 4.0 International$$uhttps://creativecommons.org/licenses/by/4.0/legalcode$$fCC-BY-4.0
000000792 6531_ $$aInflation targets
000000792 6531_ $$aMonetary policy framework
000000792 6531_ $$aTransmission of monetary policy
000000792 6531_ $$aCibles en matière d'inflation
000000792 6531_ $$aCadre de la politique monétaire
000000792 6531_ $$aTransmission de la politique monétaire
000000792 7001_ $$aHogan, Seamus
000000792 789__ $$w1192-5434$$2ISSN$$eIsPartOf
000000792 791__ $$aJournalArticle$$eIsPreviousVersionOf$$iStaff Working Paper is published in peer-reviewed journal$$2DOI$$tWhat Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?$$w10.2307/3552022$$c1998$$dCanadian Public Policy (University of Toronto Press)$$j24$$k4$$o513$$q525
000000792 8301_ $$aStaff Working Paper
000000792 8301_ $$aDocument de travail du personnel
000000792 8564_ $$uhttps://www.oar-rao.bank-banque-canada.ca/record/792/files/wp97-13.pdf$$99a3f38ca-7e40-4854-9a19-ac626cf547f5$$s92484$$zFile Source: Bank of Canada website, 2024
000000792 909CO $$ooai:www.oar-rao.bank-banque-canada.ca:792$$pbibliographic
000000792 980__ $$aStaff Research
000000792 980__ $$aRDM
000000792 991__ $$aPublic