Blanchard, Olivier; Galí, Jordi - Center for Financial Studies - 2007
of real wage rigidities. We show the nature of the tradeoff between inflation and unemployment stabilization, and we draw … inflation and unemployment and
discuss how it is influenced by the presence of real wage rigidities. We show the nature of the … Wage Rigidities.
1 Introduction
Two difierent paradigms have come to dominate macroeconomics research over
the past …