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Does Monetary Policy Help Least Those Who Need It Most?
Hanson, Michael S.; Hurst, Erik; Park, Ki Young - Economics Department, Wesleyan University - 2006
We estimate the impact of U.S. monetary policy on the cross-sectional distribution of state economic activity for a 35-year panel. Our results indicate that the effects of policy have a significant history dependence, in that relatively slow growth regions contract more following...
Persistent link: https://www.econbiz.de/10005187247
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Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009
period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every …) the lower the effective workers’ bargaining power for wages and (iii) the more important the hourly wage in the marginal …
Persistent link: https://www.econbiz.de/10003831761
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Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri; … - 2009
period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every …) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly wage in the marginal …
Persistent link: https://www.econbiz.de/10003824877
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Wage setting patterns and monetary policy : international evidence
Olivei, Giovanni P.; Tenreyro, Silvana - 2010
Systematic differences in the timing of wage setting decisions among industrialized countries provide an ideal framework to study the importance of wage rigidity in the transmission of monetary policy. The Japanese Shunto presents the best-known case of bunching in wage setting decisions: From...
Persistent link: https://www.econbiz.de/10008663350
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Sequential Bargaining in a New Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
de Walque, Gregory - 2010
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated for … each period. The workers' bargaining power in the working time negotiations affects both unemployment volatility and … employment volatility, (ii) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly …
Persistent link: https://www.econbiz.de/10013137698
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
de Walque, Gregory - 2009
period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every …) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly wage in the marginal …
Persistent link: https://www.econbiz.de/10012764242
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Wage Negotiation
de Walque, Gregory - 2009
period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every …) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly wage in the marginal …
Persistent link: https://www.econbiz.de/10012765186
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Sequential bargaining in a New Keynesian model with frictional unemployment and staggered wage negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated for … each period. The workers' bargaining power in the working time negotiations affects both unemployment volatility and … employment volatility, (ii) the lower the effective workers' bargaining power for wages and (iii) the more important the hourly …
Persistent link: https://www.econbiz.de/10011599072
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Chapter 15 Staggered price and wage setting in macroeconomics
Taylor, John B. - In: Handbook of macroeconomics : volume 1, part B, (pp. 1009-1050). 1999
This chapter reviews the role of temporary price and wage rigidities in explaining of the dynamic relationship between money, real output, and inflation. The key properties to be explained are that monetary shocks have persistent, but not permanent, effects on real output, and that the...
Persistent link: https://www.econbiz.de/10014024230
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Wage Setting Patterns and Monetary Policy : International Evidence
Olivei, Giovanni - 2010
Systematic differences in the timing of wage setting decisions among industrialized countries provide an ideal framework to study the importance of wage rigidity in the transmission of monetary policy. The Japanese Shunto presents the best-known case of bunching in wage setting decisions: From...
Persistent link: https://www.econbiz.de/10013141445