Christoffel, Kai; Costain, James S.; De Walque, Gregory; … - European Central Bank - 2009
, Business Cycle, Real Rigidities.
4
ECB
Working Paper Series No 1053
May 2009
Non-Technical Summary
The main task of central … the dynamics of in�ation. A long
tradition in monetary economics has assigned the labour market a central role in in … business cycle model setup. In particular, it explains their impli-
cations for the behaviour of marginal cost and in�ation in …