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Tradeoffs between inflation and output-gap variances in an optimizing-agent model
Erceg, Christopher J.; Henderson, Dale W.; Levin, Andrew T. - Federal Reserve Board (Board of Governors of the … - 1998
the special case in which prices are sticky and wages are perfectly flexible. When the model is calibrated to exhibit an …
Persistent link: https://www.econbiz.de/10005368225
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Human capital, unemployment, and relative wages in a global economy
Davis, Donald R.; Reeve, Trevor A. - Federal Reserve Board (Board of Governors of the … - 2000
This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …
Persistent link: https://www.econbiz.de/10005368256
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Exact utilities under alternative monetary rules in a simple macro model with optimizing agents
Henderson, Dale W.; Kim, Jinill - Federal Reserve Board (Board of Governors of the … - 1999
utility calculations. There is a stabilization problem because there are one-period nominal contracts for wages, or prices, or …
Persistent link: https://www.econbiz.de/10005368489
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Factor intensity and price rigidity: evidence and theory
Peneva, Ekaterina V. - Federal Reserve Board (Board of Governors of the … - 2009
This paper establishes a new empirical finding: the degree of labor intensity and the degree of price flexibility are negatively correlated across industrial sectors. I model this in an economy with staggered nominal wage contracts and production sectors that differ in labor and capital...
Persistent link: https://www.econbiz.de/10004965415
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Optimal monetary policy with staggered wage and price contracts
Erceg, Christopher J.; Henderson, Dale W.; Levin, Andrew T. - Federal Reserve Board (Board of Governors of the … - 1999
-optimal equilibrium that would occur under completely flexible wages and prices; that is, the model exhibits a tradeoff between … stabilizing the output gap, price inflation, and wage inflation. The Pareto optimum is attainable only if either wages or prices …
Persistent link: https://www.econbiz.de/10005712759
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Price rigidity in imperfectly competitive markets: a survey of theoretical approaches
Sharpe, Steven A. - Federal Reserve Board (Board of Governors of the … - 1987
Persistent link: https://www.econbiz.de/10005514856