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Real Wage Rigidities and Disinflation Dynamics: Calvo vs. Rotemberg Pricing

Ascari, Guido; Rossi, Lorenza - 2010

Calvo pricing implies output gains, while Rotemberg pricing implies output losses after a disinflation. Introducing real wage rigidities has opposite effects: it generates a long-lasting boom in output in Calvo, and a moderate output slump in Rotemberg.

Persistent link: https://www.econbiz.de/10010343894

Real Wage Rigidities and the Cost of Disinflations

Ascari, Guido - 2009

This paper analyzes the cost of disinflations under real wage rigidities in a micro-founded New Keynesian model. The consensus is that real wage rigidities can be a useful mechanism to induce the inflation persistence that is absent in the standard Calvo model. Real wage rigidities thus generate...

Persistent link: https://www.econbiz.de/10012766891

Will a recovery of real wages obstruct progress toward disinflation?

Kamin, Steven; Roberts, John M. - 2023

Persistent link: https://www.econbiz.de/10014375008

Inflation and counter-inflationary policy measures : the case of Hungary

Szemlér, Tamás - 2022

Hungary has a history of high inflation rates. After the transformation period inflation reached up to 35% in the early … that trade unions are rather weak in Hungary and only around one in five persons work at an establishment where a …

Persistent link: https://www.econbiz.de/10013463957

Downward wage rigidity in Hungary

Kátay, Gábor - 2011

estimates of downward real and nominal wage rigidity for Hungary. Results suggest that nominal rigidity is more prominent in … Hungary than real rigidity. When compared to other countries participating in the IWFP, Hungary ranks among the countries with … the lowest degree of downward real rigidity. The estimated downward nominal rigidity for Hungary is higher, the measure is …