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Unemployment, Inflation and Monetary Policy in a Dynamic New Keynesian Model with Hiring Costs
Abbritti, Mirko - International Economics Section, The Graduate Institute … - 2007
The dynamic general equilibrium model with hiring costs presented in this paper delivers involuntary unemployment in … the steady state and involuntary fluctuations in unemployment. After calibrating the model, through simulations we are …
Persistent link: https://www.econbiz.de/10005755406
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Unemployment, inflation and monetary policy in a dynamic New Keynesian model with hiring costs
ABBRITTI, Mirko; BOITANI, Andrea; DAMIANI, Mirella - Dipartimento di Economia, Università degli Studi di Perugia - 2006
The dynamic general equilibrium model with hiring costs presented in this paper delivers involuntary unemployment in … the steady state and involuntary fluctuations in unemployment. After calibrating the model, through simulations we are …
Persistent link: https://www.econbiz.de/10005518198
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Sequential bargaining in a New Keynesian model with frictional unemployment and staggered wage negotiation
Walque, Gregory de; Pierrard, Olivier; Sneessens, Henri; … - Nationale Bank van België/Banque national de Belqique (BNB) - 2009
We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated for … each period. The workers' bargaining power in the working time negotiations affects both unemployment volatility and … inflation persistence. The closer to zero this parameter, (i) the more firms tend to adjust on the intensive margin, reducing …
Persistent link: https://www.econbiz.de/10005033331
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - Deutsche Bundesbank - 2006
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10005083106
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Nominal wage rigidities in a new Keynesian model with frictional unemployment
Bodart, Vincent; Walque, Gregory de; Pierrard, Olivier; … - Nationale Bank van België/Banque national de Belqique (BNB) - 2006
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10005060091
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Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
Bodart, Vincent; Walque, Gregory De; Pierrard, Olivier; … - Institute for the Study of Labor (IZA) - 2006
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10005703177
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Sequential Bargaining in a New-Keynesian Model with Frictional Unemployment and Staggered Wage Negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri; … - Institute for the Study of Labor (IZA) - 2009
period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence …We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every … cost determination. This set-up produces realistic labor market statistics together with inflation persistence …
Persistent link: https://www.econbiz.de/10005703208
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai; Linzert, Tobias - Institute for the Study of Labor (IZA) - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10005703779
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Unemployment, Inflation and Monetary Policy in a Dynamic New Keynesian Model with Hiring Costs
Abbritti, Mirko; Boitani, Andrea; Damiani, Mirella - Volkswirtschaftliche Fakultät, … - 2006
The dynamic general equilibrium model with hiring costs presented in this paper delivers involuntary unemployment in …
Persistent link: https://www.econbiz.de/10005623410
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Nominal wage rigidities in a new Keynesian model with frictional unemployment
Bodart, Vincent; De Walque, Gregory; Pierrard, Olivier; … - 2006
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified...
Persistent link: https://www.econbiz.de/10011506619