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Fair Wages in a New Keynesian Model of the Business Cycle
Danthine, Jean-Pierre; Kurmann, Andre - C.E.P.R. Discussion Papers - 2002
marginal cost with respect to output. The smoother dynamics of real marginal cost increase both amplification and persistence …
Persistent link: https://www.econbiz.de/10005067494
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Fair Wages in a New Keynesian Model of the Business Cycle
Danthine, Jean-Pierre; Kurmann, Andre - In: Review of Economic Dynamics 7 (2004) 1, pp. 107-142
marginal cost with respect to output. The smoother dynamics of real marginal cost increase both amplification and persistence …
Persistent link: https://www.econbiz.de/10005091025
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Fair Wages in a New Keynesian Model of the Business Cycle
Danthine, Jean-Pierre; Kurmann, André - Centre Interuniversitaire sur le Risque, les Politiques … - 2003
marginal cost with respect to output. The smoother dynamics of real marginal cost increase both amplification and persistence …
Persistent link: https://www.econbiz.de/10005696295
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Delivering Endogenous Inertia in Prices and Output
Johri, Alok - In: Review of Economic Dynamics 12 (2009) 4, pp. 736-754
-set pricing model deliver these results: learning-by-doing and habit formation in leisure. While the model delivers persistence …
Persistent link: https://www.econbiz.de/10004985615
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Persistence and nominal inertia in a generalized Taylor economy: How longer contracts dominate shorter contracts
Dixon, Huw; Kara, Engin - 2007
We develop the Generalized Taylor Economy (GTE) in which there are many sectors with overlapping contracts of di§erent lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. Using the Bils-Klenow distribution of...
Persistent link: https://www.econbiz.de/10010322772
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Persistence and nominal inertia in a generalized Taylor economy: how longer contracts dominate shorter contracts
Dixon, Huw; Kara, Engin - 2005
In this paper we develop the Generalized Taylor Economy (GTE) in which there are many sectors with overlapping contracts of different lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. We are able to solve the...
Persistent link: https://www.econbiz.de/10011604535
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Persistence and Nominal Inertia in a Generalized Taylor Economy: How Longer Contracts Dominate Shorter Contracts
Dixon, Huw; Kara, Engin - Department of Economics, University of Birmingham - 2007
We develop the Generalized Taylor Economy (GTE) in which there are many sectors with overlapping contracts of different lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. Using the Bils-Klenow distribution of...
Persistent link: https://www.econbiz.de/10005357608
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Persistence and Nominal Inertia in a Generalized Taylor Economy: How Longer Contracts Dominate Shorter Contracts
Dixon, Huw David; Kara, Engin - Economics Section, Cardiff Business School - 2007
We develop the Generalized Taylor Economy (GTE) in which there are many sectors with overlapping contracts of different lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. Using the Bils-Klenow distribution of...
Persistent link: https://www.econbiz.de/10005256690
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Specific factors meet intermediate inputs: implications for the persistence problem
Huang, Kevin - In: Review of Economic Dynamics 9 (2006) 3, pp. 483-507
A central challenge to monetary business cycle theory is to find a solution to the problem of persistence in the real … promising mechanisms for generating the persistence in a staggered price-setting framework. By examining a staggered price model … finding posits a challenge to the search of robust monetary transmission mechanism for solving the persistence problem …
Persistent link: https://www.econbiz.de/10005069676
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Persistence and Nominal Inertia in a Generalized Taylor Economy: How Longer Contracts Dominate Shorter Contracts
Kara, Engin; Dixon, Huw - Society for Computational Economics - SCE - 2005
n this paper we develop the Generalize Taylor Economy (GTE) in which there are many sectors with overlapping contracts of different lengths. We are able to show that even in economies with the same average contract length, monetary shocks will be more persistent when there are longer contracts....
Persistent link: https://www.econbiz.de/10005537478