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  • Openness, Central Wage Bargaining, and Inflation 

    Daniels, Joseph P.; Nourzad, Farrokh; VanHoose, David D. (2005-08-13)
    This paper develops a model of an open economy containing both sectors in which wages are market-determined and sectors with wage-setting arrangements. A portion of the latter group of sectors coordinate their wages, ...
  • Openness, the Sacrifice Ratio, and Inflation: Is there a Puzzle? 

    Daniels, Joseph P.; VanHoose, David D. (2005-08-13)
    The standard time-inconsistency-based explanation for the negative correlation between openness and inflation requires an inverse relationship between the sacrifice ratio and openness, but Daniels et al. (forthcoming) ...