Merkl, Christian; Snower, Dennis J. - C.E.P.R. Discussion Papers - 2006
This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible … parameter values, wage and price staggering are highly complementary in generating monetary persistence. We do so by proposing … staggering work in isolation, it is important to explore their interactions. Furthermore, our analysis indicates that the degree …