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U.S. Wage and Price Dynamics : A Limited Information Approach
Sbordone, Argia M. - 2006
; and, when prices and wages are not reoptimized, they can be partially adjusted to previous-period aggregate inflation. The …This paper analyzes the dynamics of prices and wages using a limited information approach to estimation. I estimate a … two-equation model for the determination of prices and wages derived from an optimization-based dynamic model in which …
Persistent link: https://www.econbiz.de/10014055643
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US wage and price dynamics: A limited information approach
Sbordone, Argia M. - 2006
; and, when prices and wages are not reoptimized, they can be partially adjusted to previous-period aggregate inflation. The …This paper analyzes the dynamics of prices and wages using a limited information approach to estimation. I estimate a … two-equation model for the determination of prices and wages derived from an optimization-based dynamic model in which …
Persistent link: https://www.econbiz.de/10010283306
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Why wage and price flexibility is destabilizing
Moore, Basil J. - 1998
Persistent link: https://www.econbiz.de/10001556492
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An examination of wage behavior in macroeconomic models with long term contracts
Lang, William W. - 1989
Persistent link: https://www.econbiz.de/10000771651
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The rationale for wage rigidity : survey evidence from German and US firms
Franz, Wolfgang (contributor);  … - 2002
Persistent link: https://www.econbiz.de/10001735359
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The cost of nominal rigidity in NNS models
Canzoneri, Matthew B.; Cumby, Robert; Diba, Behzad - In: Journal of money, credit and banking : JMCB 39 (2007) 7, pp. 1563-1586
Persistent link: https://www.econbiz.de/10003549202
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The cost of nominal inertia in NNS models
Canzoneri, Matthew B.; Cumby, Robert; Diba, Behzad - 2004
"We calculate the welfare cost of nominal inertia in a New Neoclassical Synthesis model with wage and price stickiness … be free of the effects of wage and price stickiness. Wage inertia appears to be the major source of these welfare costs …
Persistent link: https://www.econbiz.de/10002443016
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Fixed wage contracts and monetary non-neutrality
Björklund, Maria; Carlsson, Mikael; Nordström Skans, Oskar - 2019
We study the importance of wage rigidities for the monetary policy transmission mechanism. Using uniquely rich micro data on Swedish wage negotiations, we isolate periods when the labor market is covered by fixed wage contracts. Importantly, negotiations are coordinated in time but their...
Persistent link: https://www.econbiz.de/10011990062
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Fixed wage contracts and monetary non-neutrality
Björklund, Maria; Carlsson, Mikael; Nordström Skans, Oskar - 2016
We study the importance of wage rigidities for the monetary policy transmission mechanism. Using uniquely rich micro data on Swedish wage negotiations, we isolate periods when the labor market is covered by fixed wage contracts. Importantly, negotiations are coordinated in time but their...
Persistent link: https://www.econbiz.de/10011522352
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Sticky wages, incomplete pass-through and inflation targeting : what is the right index to target?
Abo-Zaid, Salem M. - 2009
This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and … rigid nominal wages. The paper shows that, when nominal wages are fully flexible and pass-through is low to moderate, the … monetary authority should target the consumer price index (CPI) rather than the Domestic Price Index (DPI). When pass …
Persistent link: https://www.econbiz.de/10011523924