Quadratic labor adjustment costs and the New-Keynesian model

by Wolfgang Lechthaler and Dennis Snower

We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this is sufficient to increase both, output and inflation persistence. -- Monetary persistence ; labor adjustment costs

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Year of publication:	Oct. 2008
Other Persons:	Lechthaler, Wolfgang (contributor) ; Snower, Dennis J. (contributor)
Publisher:	Kiel : Kiel Inst. for the World Economy
Subject:	Preisrigidität \| Price stickiness \| Arbeitsmarkt \| Labour market \| Anpassungskosten \| Adjustment costs \| Neoklassische Synthese \| Neoclassical synthesis \| Konjunkturtheorie \| Business cycle theory \| Theorie \| Theory

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Extent:	Online-Ressource (7 S.) graph. Darst.
Series:	Kiel working paper. - Kiel : [Verlag nicht ermittelbar], ISSN 1862-1155, ZDB-ID 2107612-1. - Vol. 1453
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/24847 [Handle]
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; J23 - Employment Determination; Job Creation; Demand for Labor; Self-Employment
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003757577