Casares, Miguel; Moreno, Antonio; Vázquez, Jesús - In: SERIEs 3 (2012) 3, pp. 395-422
Erceg et al. (J Monet Econ 46:281–313, <CitationRef CitationID="CR18">2000</CitationRef>) introduce sticky wages in a New-Keynesian general-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations into a New-Keynesian model. Using a Bayesian econometric approach, both models are...</citationref>
