Similar Search Results

Production decisions under demand uncertainty: The high-low search approach

Alpern, Steve; Snower, Dennis J. - 1988

Persistent link: https://www.econbiz.de/10010332746

Patterns of unemployment: An insider-outsider analysis

Lindbeck, Assar; Snower, Dennis J. - 1994

Persistent link: https://www.econbiz.de/10010332748

The low-skill, bad-job trap

Snower, Dennis J. - 1994

Persistent link: https://www.econbiz.de/10010332750

Unemployment persistence and the unemployment-productivity relation

Snower, Dennis J. - 1994

Persistent link: https://www.econbiz.de/10010332755

Hyperbolic discounting and positive optimal inflation

Graham, Liam; Snower, Dennis J. - 2011

The Friedman rule states that steady-state welfare is maximized when there is deflation at the real rate of interest. Recent work by Khan et al. (2003) uses a richer model but still finds deflation optimal. In an otherwise standard new Keynesian model we show that, if households have hyperbolic...

Persistent link: https://www.econbiz.de/10010332776

A Theory of Price Adjustment under Loss Aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010398564

Quadratic labor adjustment costs, business cycle dynamics and optimal monetary policy

Lechthaler, Wolfgang; Snower, Dennis J. - 2011

We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this increases output persistence in a similar vein as other models of labor market frictions. Furthermore, it is demonstrated that quadratic labor adjustment costs imply...

Persistent link: https://www.econbiz.de/10011453723

An incentive theory of matching

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2009

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are …

Persistent link: https://www.econbiz.de/10010277955

Monetary persistence, imperfect competition, and staggering complementarities

Merkl, Christian; Snower, Dennis J. - 2007

This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new measure of quantitative inertia, after discussing...

Persistent link: https://www.econbiz.de/10010277971

Monetary persistence and the labor market: A new perspective

Lechthaler, Wolfgang; Merkl, Christian; Snower, Dennis J. - 2008

It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as...

Persistent link: https://www.econbiz.de/10010277972