Productivity growth and volatility: how important are wage and price rigidities?
We study the implications of having different sources of nominal rigidities on the relationship between productivity growth and shocks volatility in a model with procyclical R&D and imperfect competition in goods and labour markets. We show that the effects of uncertainty on long-term growth not only depends on the source of fluctuations, as recent literature shows, but also, and crucially, on whether prices and/or wages are rigid. Copyright 2014 Oxford University Press 2013 All rights reserved, Oxford University Press.
Year of publication: |
2014
|
---|---|
Authors: | Annicchiarico, Barbara ; Pelloni, Alessandra |
Published in: |
Oxford Economic Papers. - Oxford University Press. - Vol. 66.2014, 1, p. 306-324
|
Publisher: |
Oxford University Press |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Endogenous Growth, Monetary Shocks and Nominal Rigidities
Annicchiarico, Barbara, (2010)
-
Optimal factor taxation in a scale free model of vertical innovation
Annicchiarico, Barbara, (2021)
-
Long-term growth and short-term volatility : the labour market nexus
Annicchiarico, Barbara, (2008)
- More ...