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In a plain-vanilla New Keynesian model with two-period staggered price-setting, discretionary monetary policy leads to multiple equilibria. Complementarity between pricing decisions of forward-looking firms underlies the multiplicity, which is intrinsically dynamic in nature. At each point in...
Persistent link: https://www.econbiz.de/10009639397
's matching model of unemployment. To the best of our knowledge, this is the first attempt to implement and systematically compare … these solutions in search-matching economies. Our results are twofold. First from the theoretical and methodological … viewpoint, we extend a somewhat flexible search-matching economy to alternative bargaining solutions. In particular, we prove …
Persistent link: https://www.econbiz.de/10009639478