Similar Search Results

Nominal wage rigidities and the propagation of monetary disturbances

Erceg, Christopher J. - Federal Reserve Board (Board of Governors of the … - 1997

Recent research has challenged the ability of sticky price general equilibrium models to generate a contract multiplier, i.e., an effect of a monetary innovation on output that extends beyond the contract interval. We show that a simple dynamic general equilbrium model that includes...

Persistent link: https://www.econbiz.de/10005368194

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

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

International comparisons of labor costs in manufacturing

Hooper, Peter; Larin, Kathryn A. - Federal Reserve Board (Board of Governors of the … - 1988

This paper presents a comparative study of the level of unit labor costs in the manufacturing sectors of several countries. The paper begins by surveying earlier estimates of relative productivity and unit labor cost levels and evaluating the various methodologies that have been used in previous...

Persistent link: https://www.econbiz.de/10005368260

Optimal fiscal and monetary policy with costly wage bargaining

Arseneau, David M.; Chugh, Sanjay K. - Federal Reserve Board (Board of Governors of the … - 2007

nominal wages. This finding contrasts with results obtained using standard sticky-wage models, which employ Walrasian labor … tolerate large fluctuations in real wages that would otherwise not be tolerated in a standard model with Walrasian labor … markets; as a result, any concern for stabilizing nominal wages does not translate into a concern for stabilizing nominal …

Persistent link: https://www.econbiz.de/10005368440

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

The level and distribution of economic well-being

Bernanke, Ben S. - Federal Reserve Board (Board of Governors of the … - 2007

a speech before the Greater Omaha Chamber of Commerce, Omaha, Nebraska

Persistent link: https://www.econbiz.de/10010725350

Incentive compensation: testimony before the Committee on Financial Services, September 24, 2010

Alvarez, Scott G. - Federal Reserve Board (Board of Governors of the … - 2010

Persistent link: https://www.econbiz.de/10010727519

Evidence on nominal wage rigidity from a panel of U.S. manufacturing industries

Ghosal, Vivek; Loungani, Prakash - Federal Reserve Board (Board of Governors of the … - 1995

Using annual data for 450 manufacturing industries over the period 1958 to 1989, we establish the following stylized facts on the response of industry nominal wage growth to aggregate and industry influences: ; 1. We find support for the canonical wage contracts model outlined in Blanchard and...

Persistent link: https://www.econbiz.de/10005712723

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