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This paper reexamines wage and price dynamics in response to permanent shocks to productivity. We estimate a micro …-founded dynamic general equilibrium (DGE) model of the U.S. economy with sticky wages and sticky prices using impulse responses to … for significant inertia in wages and some intrinsic inertia in nominal wage inflation. Our results provide support for the …
Persistent link: https://www.econbiz.de/10005401614
This paper reexamines wage and price dynamics in response to permanent shocks to productivity. We estimate a micro …-founded dynamic general equilibrium (DGE) model of the U.S. economy with sticky wages and sticky prices using impulse responses to … for significant inertia in wages and some intrinsic inertia in nominal wage inflation. Our results provide support for the …
Persistent link: https://www.econbiz.de/10010702169
total factor productivity growth and levels of investment. Political instability is also found to influence levels of …
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