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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …
Persistent link: https://www.econbiz.de/10003227218
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai - 2019
degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …
Persistent link: https://www.econbiz.de/10012705990
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The Role of Labor Markets for Euro Area Monetary Policy
Christoffel, Kai - 2009
degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …
Persistent link: https://www.econbiz.de/10012764518
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Labor Market Frictions and Optimal Monetary Policy
Binyamini, Alon - 2013
in order to stabilize inflation. It follows that in response to higher nominal wage rigidity, it is optimal to allow for … smaller fluctuations of unemployment at the expense of larger inflation fluctuations …
Persistent link: https://www.econbiz.de/10013085007
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Labor market frictions and monetary policy design
Almosova, Anna - 2016
This paper estimates a New Keynesian DSGE model with search frictions and monetary rules augmented with different labor market indicators. In accordance with a theoretical literature I find that a central bank reacts to a labor market tightness, employment or unemployment. Posterior odds tests...
Persistent link: https://www.econbiz.de/10011572127
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Labor Market Institutions and the Business Cycle : Unemployment Rigidities vs. Real Wage Rigidities
Abbritti, Mirko - 2010
This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with … deterministically varying coefficients and find that there is a profound difference in the responses of unemployment and inflation to …
Persistent link: https://www.econbiz.de/10013144855
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …
Persistent link: https://www.econbiz.de/10003832582
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The role of labor markets for euro area monetary policy
Christoffel, Kai; Küster, Keith; Linzert, Tobias - 2009
degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …
Persistent link: https://www.econbiz.de/10003827243
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The Role of Search Frictions and Bargaining for Inflation Dynamics
Trigari, Antonella - 2006
marginal costs with respect to output and thus help to account for the observed inertia in inflation …
Persistent link: https://www.econbiz.de/10012734292
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From micro to macro hysteresis : long-run effects of monetary policy
Alves, Felipe; Violante, Giovanni L. - 2024 - Last updated: October 24, 2024
We develop a Heterogeneous Agent New Keynesian model with a three-state frictional labour market that is consistent with the empirical evidence that (i) low-skilled workers are more exposed to the business cycle, (ii) displacement leads to long-lasting earnings losses, and (iii) unemployment is...
Persistent link: https://www.econbiz.de/10015098505