NBER WORKING PAPER SERIES OPTIMAL MONETARY POLICY AND WAGE INDEXATION UNDER ALTERNATIVE DISTURBANCES AND INFORMATION STRUCTURES Stephen J. Turnovsky Working Paper No. 2042 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 October 1986 The research reported here is part of the NBER's research program in International Studies. Any opinions expressed are those of the author and not those of the National Bureau of Economic Research.