Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
the model by Bayesian techniques we analyze to which extent labor market shocks, such as disturbances in the vacancy …In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in … labor market would alter the business cycle behaviour and the transmission of monetary policy. We find that while a lower …