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.

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Year of publication:	2011-12
Authors:	Barbara, Annicchiarico ; Alessandra, Pelloni
Institutions:	Department of Communication, University of Teramo
Subject:	productivity \| growth \| volatility

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Extent:	application/pdf
Series:	wp.comunite.
Type of publication:	Book / Working Paper
Language:	English
Classification:	E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; O42 - Monetary Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009364843