How Long to Read Wage-Price Spirals: What is the Historical Evidence?

How Long Does it Take to Read Wage-Price Spirals: What is the Historical Evidence??

It takes the average reader and 30 minutes to read Wage-Price Spirals: What is the Historical Evidence? by Jorge Alvarez

Assuming a reading speed of 250 words per minute. Learn more

Description

How often have wage-price spirals occurred, and what has happened in their aftermath? We investigate this by creating a database of past wage-price spirals among a wide set of advanced economies going back to the 1960s. We define a wage-price spiral as an episode where at least three out of four consecutive quarters saw accelerating consumer prices and rising nominal wages. Perhaps surprisingly, only a small minority of such episodes were followed by sustained acceleration in wages and prices. Instead, inflation and nominal wage growth tended to stabilize, leaving real wage growth broadly unchanged. A decomposition of wage dynamics using a wage Phillips curve suggests that nominal wage growth normally stabilizes at levels that are consistent with observed inflation and labor market tightness. When focusing on episodes that mimic the recent pattern of falling real wages and tightening labor markets, declining inflation and nominal wage growth increases tended to follow – thus allowing real wages to catch up. We conclude that an acceleration of nominal wages should not necessarily be seen as a sign that a wage-price spiral is taking hold.

How long is Wage-Price Spirals: What is the Historical Evidence??

Wage-Price Spirals: What is the Historical Evidence? by Jorge Alvarez is 29 pages long, and a total of 7,511 words.

This makes it 10% the length of the average book. It also has 9% more words than the average book.

How Long Does it Take to Read Wage-Price Spirals: What is the Historical Evidence? Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 41 minutes to read Wage-Price Spirals: What is the Historical Evidence? aloud.

What Reading Level is Wage-Price Spirals: What is the Historical Evidence??

Wage-Price Spirals: What is the Historical Evidence? is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Wage-Price Spirals: What is the Historical Evidence??

Wage-Price Spirals: What is the Historical Evidence? by Jorge Alvarez is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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