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Monetary persistence, imperfect competition and staggering complementarities
Merkl, Christian; Snower, Dennis J. - 2006
Persistent link: https://www.econbiz.de/10003330114
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Monetary persistence, imperfect competition, and staggering complementarities
Merkl, Christian (contributor);  … - 2005
This paper explores the influence of wage and price staggering on monetary persistence. First, our analysis indicates that the degree of monetary persistence generated by wage vis-à-vis price staggering depends on the relative competitiveness of the labor and product markets. We show that the...
Persistent link: https://www.econbiz.de/10003066334
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Monetary Persistence, Imperfect Competition, and Staggering Complementarities
Merkl, Christian; Snower, Dennis J. - 2021
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/10013316832
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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) - 2006
persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to …
Persistent link: https://www.econbiz.de/10003304975
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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
persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to …
Persistent link: https://www.econbiz.de/10003227218
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Monetary and labor policies under market frictions
Merkl, Christian - 2007
The thesis analyzes monetary and labor policies under different market frictions. In the first part several versions of a microfounded dynamic general equilibrium model with monopolistic competitors in the product and/or labor market are derived and simulated. First of all, the monetary...
Persistent link: https://www.econbiz.de/10010460022
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Monetary and labor policies under market frictions
Merkl, Christian - 2007
Persistent link: https://www.econbiz.de/10003465747
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Persistency and money demand distortions in a stochastic DGE model with sticky prices
Gail, Michael - 2004 - Revised February 26th, 2004
Recently macroeconomists have intensified their efforts to develop models that are able to generate persistent reactions of real variables to monetary shocks in stochastic DGE models with nominal rigidities. This has proven to be quite difficult in models with price staggering only. Most papers...
Persistent link: https://www.econbiz.de/10011525437
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A comparison of some basic monetary policy regimes for open economies : implications of different degrees of instrument adjustment and wage persistence
Henderson, Dale W. - In: Carnegie Rochester conference series on public policy : … 39 (1993), pp. 221-317
Persistent link: https://www.econbiz.de/10001158510
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Essays in econometrics and macroeconomics
Tenhofen, Jörn - 2011
Persistent link: https://www.econbiz.de/10009422862