In the crisis, the exchange rates of many countries have fallen sharply, but their nominal wages have not gone up to compensate.
22.
Workers have not yet recognized the extent to which their rising productivity has not yet been matched by increases in nominal wages,
23.
This year's " nominal wage increases were so high because the private sector did not believe the 13 percent official inflation target,"
24.
With lower inflation than our competitors, we can still increase our real wages through lower nominal wage increases than in other countries,
25.
In this case, however, real wages can be depressed ( and Beveridge full employment restored ) if prices rise relative to nominal wages.
26.
Should, at that point, labor market tightness result in faster growth of nominal wage rates, there would be no offset from accelerating productivity.
27.
If nominal wages and prices were " perfectly flexible ", they would always adjust so that there would be equilibrium in the economy.
28.
The agency said monthly nominal wages in manufacturing for the Philippines reached $ 291.7 million, compared with Indonesia's $ 111.90 and Thailand's $ 168.60.
29.
However, to Keynes, people will resist nominal wage reductions, even without unions, until they see other wages falling and a general fall of prices.
30.
Real wages also fell in 1994 : average nominal wage increases of 65 percent were about 20 percent below the rate of consumer price inflation.
