Monetary Persistence, Imperfect Competition,and Staggering Complementarities

This paper explores the influence of wage and price staggering on monetary persistence. Weshow that, for plausible parameter values, wage and price staggering are complementary ingenerating monetary persistence. We do so by proposing the new measure of "quantitativeinertia," after discussing weaknesses of the "contract multiplier," a standard measure ofmonetary persistence...

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Year of publication:	2007-09-01
Authors:	Merkl, Christian ; Snower, Dennis J.
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Preis \| Finanzlage \| Lohn

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Extent:	287744 bytes 33 p. application/pdf
Series:	IZA - Forschungsinstitut zur Zukunft der Arbeit - Discussion Papers IZA Discussion Paper ; No. 3033 (2007)
Type of publication:	Book / Working Paper
Language:	English
Classification:	E40 - Money and Interest Rates. General ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; Corporate finance and investment policy. Other aspects ; Ergonomic job analysis ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005861867