Nominal wage rigidities in a new Keynesian model with frictional unemployment
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple shocks. The model generates realistic statistics for the important labor market variables.
Year of publication: |
2006
|
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Authors: | Bodart, Vincent ; De Walque, Gregory ; Pierrard, Olivier ; Sneessens, Henri R. ; Wouters, Raf |
Publisher: |
Bonn : Institute for the Study of Labor (IZA) |
Saved in:
freely available
Series: | IZA Discussion Papers ; 2528 |
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Type of publication: | Book / Working Paper |
Type of publication (narrower categories): | Working Paper |
Language: | English |
Other identifiers: | 541580671 [GVK] hdl:10419/33780 [Handle] |
Source: |
Persistent link: https://www.econbiz.de/10010267784
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