Mattesini, Fabrizio; Rossi, Lorenza - Dipartimenti e Istituti di Scienze Economiche, … - 2007
In this paper we analyze a general equilibrium dynamic stochastic New Keynesian model characterized by labor indivisibilities, unemployment and a unionized labor market. The presence of monopoly unions introduces real wage rigidities in the model. We show that as in Blanchard Galì (2005) the so...