Bubbles, Wage Rigidity, and Persistent Slumps

We embed downward wage rigidity into a rational bubble model. We analytically characterize how the collapse of bubbles can interact with wage rigidity to generate deep and protracted recessions with involuntary unemployment, such as those in Japan or Spain

MoreLess

Year of publication:	2018
Authors:	Hanson, Andrew ; Phan, Toan
Publisher:	[S.l.] : SSRN
Subject:	Lohnrigidität \| Wage rigidity \| Spekulationsblase \| Bubbles \| Theorie \| Theory \| Arbeitslosigkeit \| Unemployment \| Volatilität \| Volatility

Extent:	1 Online-Ressource (10 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Economic Letters, 151(2), 2017, pp. 66-70 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 4, 2016 erstellt
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; E3 - Prices, Business Fluctuations, and Cycles ; E4 - Money and Interest Rates
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014123882