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Project Citation: 

Messina, Julián, and Sanz-de-Galdeano, Anna. Replication data for: Wage Rigidity and Disinflation in Emerging Countries. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12.

Project Description

Summary:  View help for Summary This paper examines the consequences of rapid disinflation for downward wage rigidities in two emerging countries, Brazil and Uruguay. Although wage rigidities are altered by disinflation, in neither of the two countries does price stability eliminate frictions in wage-setting mechanisms. In a context of individual wage negotiations and weak unions, disinflation in Uruguay puts an end to its history of indexation, but strong resistance to nominal wage cuts emerges. In strongly unionized Brazil, wage indexation is highly persistent, but the introduction of inflation targeting by the Central Bank in 1999 moves the focal point of wage negotiations to expected inflation.

Scope of Project

JEL Classification:  View help for JEL Classification
      E31 Price Level; Inflation; Deflation
      E52 Monetary Policy
      J31 Wage Level and Structure; Wage Differentials
      J51 Trade Unions: Objectives, Structure, and Effects
      O11 Macroeconomic Analyses of Economic Development
      O15 Economic Development: Human Resources; Human Development; Income Distribution; Migration
      O23 Fiscal and Monetary Policy in Development

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