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Inflationary Wage Increase under Currency Substitution

February 6th, 2008 · No Comments

Author: HENG Dyna Publication date: Unknown Type of document: Undergraduate thesis paper Abstract This paper studies the effects of an inflationary wage increase for government staffs on the welfare of their own and private employees, and social welfare, with cash-in-advance constraints under currency substitution in an overlapping generation model. We show that there exists a […]

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