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accessRights:"free"
~institution:"Centre for Research and Analysis of Migration (CReAM), University College London (UCL)"
~institution:"Federal Reserve Bank of Cleveland"
~institution:"Federal Reserve Bank of Minneapolis"
~institution:"USA / Bureau of Labor Statistics"
~institution:"eSocialSciences"
~person:"Carlstrom, Charles T."
~subject:"Monetary policy"
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Monetary policy in an economy with nominal wage contracts
Carlstrom, Charles T.
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Federal Reserve Bank of Cleveland
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1987
A demonstration that optimal monetary policy can be either procyclical or countercyclical in a model where wages are "sticky" because of a nominal contracting constraint.
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