Showing 1 - 3 of 3
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10005083106
zentrale Rolle für die Geldpolitik der Europäischen Zentralbank. Das dort bereitgestellte Refinanzierungsvolumen bestimmt die …
Persistent link: https://www.econbiz.de/10005083079
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10005083212