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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai Philipp - 2006
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business …
Persistent link: https://www.econbiz.de/10012783591
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business …
Persistent link: https://www.econbiz.de/10011604602
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2006
structurally model matching frictions and rigid wages in line with an optimizing rationale in a New Keynesian closed economy DSGE … the labor market itself may contain only limited information for the conduct of stabilization policy. …
Persistent link: https://www.econbiz.de/10011604681
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2009
which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible … into monitoring euro area wage dynamics and which appears to treat some of the other labor market information as less …
Persistent link: https://www.econbiz.de/10011605081
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2006
structurally model matching frictions and rigid wages in line with an optimizing rationale in a New Keynesian closed economy DSGE … the labor market itself may contain only limited information for the conduct of stabilization policy. …
Persistent link: https://www.econbiz.de/10010298356
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai Philipp - 2009
which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible … into monitoring euro area wage dynamics and which appears to treat some of the other labor market information as less …
Persistent link: https://www.econbiz.de/10012764518
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The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation
Buiter, Willem H. - 2006
whether nominal price and/or wage rigidities are due to New-Keynesian, Old-Keynesian or sticky-information Phillips curves …
Persistent link: https://www.econbiz.de/10011604655
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Inflation dynamics with labour market matching: assessing alternative specifications
Christoffel, Kai; Costain, James; de Walque, Gregory; … - 2009
dynamics through both their effect on marginal cost and on price-setting behaviour. In a search and matching environment, we …
Persistent link: https://www.econbiz.de/10011605099
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Bayesian and adaptive optimal policy under model uncertainty
Svensson, Lars E. O.; Williams, Noah - 2006
includes an experimentation component reflecting the endogeneity of information. We develop algorithms to solve numerically for …
Persistent link: https://www.econbiz.de/10010298360
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How Robust Is the Result That the Cost of ‘Leaning against the Wind’ Exceeds the Benefit?
Svensson, Lars E. O. - 2017
The main result in Svensson (2017) and its previous versions is that, given current knowledge and empirical estimates, the cost of using monetary policy to “lean against the wind” for financial-stability purposes exceeds the benefit by a substantial margin. Adrian and Liang (2016a) conduct a...
Persistent link: https://www.econbiz.de/10012961595