On Optimal Wage Indexation
证明存在最优工资指数化方案，能消除因提前签订劳动合同造成的经济摩擦，使就业和产出水平达到事后签约的均衡状态，对研究工资合同与经济稳定性的学者有参考价值。
The observed practice of contracting for labor services in advance introduces stickiness or friction into the economic system. In the presence of monetary and real stochastic disturbances the stability of the levels of employment and output hinges on the nature of the wage contracts. In this paper we demonstrate the existence of optimal indexation schemes that are capable of eliminating the aforementioned friction by duplicating the equilibrium that would obtain if labor services were contracted for after the stochastic disturbances were realized.