Staggered Wage Setting in a Macro Model.

This article argues that the inflation dynamics typically associated with the expectations-augmented Phillips curve are significantly influenced by the interaction of staggered contracts as well as by expectations effects. A property of wage and price contracts which has not typically been emphasize...

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Bibliographic Details

Published in:	American Economic Review Vol. 69; no. 2; pp. 108 - 114
Main Author:	Taylor, John B.
Format:	Article
Published:	American Economic Association May79
Subjects:	Price inflation Phillips curve Demand function Rational expectations (Economic theory) Contracts Macroeconomics
Online Access:	View this record in EBSCOhost