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Erceg et al. (J Monet Econ 46:281313, 2000) introduce sticky wages in a New-Keynesian general-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations into a New-Keynesian model. Using a Bayesian econometric approach, bothmodels are estimated...
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order to restore investment, innovation, and therefore growth, the European Commission seeks to raise the level of static … in economic growth theory, which state that increased competition intensity may harm endogenous innovation, provide a …
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