Casares, Miguel; Moreno, Antonio; Vázquez, Jesús - Departamento de Economía - Universidad Pública de Navarra - 2010
As one alternative to search frictions, wage stickiness is introduced in a New-Keynesian model to generate endogenous unemployment fluctuations due to mismatches between labor supply and labor demand. The effects on an estimated New-Keynesian model for the U.S. economy are: i) the Calvo-type...