1989 | OriginalPaper | Chapter
Wage-Price Spirals
Authors : Prof. Dr. Piero Ferri, Prof. Dr. Edward Greenberg
Published in: The Labor Market and Business Cycle Theories
Publisher: Springer Berlin Heidelberg
Included in: Professional Book Archive
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In the model tLat we have considered so far, the wage-price spiral has not played a prominent role, because equilibrium situations have been considered, because only one equation has been taken into account, or because the full impact of the spiral on the nominal values of the other variables has been neglected.