Ascari, Guido (contributor); Merkl, Christian (contributor) - 2007
This paper analyzes the cost of disinflations under real wage rigidities in a micro-founded New Keynesian model. The … real wage rigidities in a micro-founded
New Keynesian model. The consensus is that real wage rigidities can be a useful … began to be incorporated in many dynamic stochastic general equilibrium
(DSGE) New Keynesian models, starting with Krause …