The adjustment mechanism usually provided by exchange-rate movements could instead be delivered by wage changes. It is only in more sluggish industrial economies, where wages are assumed to be inflexible, that policymakers advocate exchange-rate movements as a means to overcome wage stickiness.
保持货币汇率稳定还有一个较少被讨论到的理由。通常由汇率运动提供的机制调整可以用工资变化来推动。只有在更僵化的工业经济体——那里的工资总是缺乏灵活性——决策者才会把汇率运动用作克服工资刚性的手段。