We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are …

step, I investigate how wages in the production sector affect bank net worth and the process of financial intermediation in … capital to a change in wages. This finding is relevant for the determination of optimal monetary policy, both for financial … shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …

A model of nominal labor-price dynamics is derived from the choice of an efficient strategy to adjust wages for …

's assumption that wage bargainers are influenced by relative money wages rather than relative real wages. In Taylor's model money … that wage bargainers are influenced by relative real wages, which we consider somewhat more plausible, has some interesting …

first step, I investigate how wages in the production sector affect bank net worth and the process of financial … capital to a change in wages. This finding is relevant for the determination of optimal monetary policy, both for financial … shocks and supply shocks inflation stabilization imposes high welfare costs. At the same time, stabilizing nominal wages …

's assumption that wage bargainers are influenced by relative money wages rather than relative real wages. In Taylor's model money … that wage bargainers are influenced by relative real wages, which we consider somewhat more plausible, has some interesting …

We study the output costs of a reduction in monetary growth in a dynamic general equilibrium model with staggered wages …

We study the output costs of a reduction in monetary growth in a dynamic general equilibrium model with staggered wages …