Relative Wage Concern and the Keynesian Contract Multiplier.

Recent quantitative dynamic general equilibrium models have cast serious doubts on the explanatory power of staggered wage/price setting in accounting for both output and inflation persistence. The authors enlarge a dynamic general equilibrium model with staggered wages by incorporating Keynesian relative wage concern on the part of workers.

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Year of publication:	1999
Authors:	Ascari, G. ; Garcia, J.A.
Institutions:	Department of Economics, European University Institute
Subject:	WAGES \| EMPLOYMENT \| BUSINESS CYCLES

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Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Notes:	49 pages
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005744357