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In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behaviour...
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This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … theory. While labor market institutions have a large effect on output volatility, they do not seem to have much of an effect … and inflation volatility ; labor turnover costs ; unemployment benefits ; unemployment ; eurozone …
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This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … theory. Real wage rigidities do not seem to play much of a role. This result is in line with our employed labor market model …
Persistent link: https://www.econbiz.de/10003827228
In this paper, we explore the role of labor markets for monetary policy in the euro area in a New Keynesian model in which labor markets are characterized by search and matching frictions. We first investigate to which extent a more flexible labor market would alter the business cycle behavior...
Persistent link: https://www.econbiz.de/10003827243