Monetary Persistence and the Labor Market : A New Perspective

It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary monetary shocks. We show that this shortcoming can be remedied in a simple and intuitively appealing way through the introduction of labor turnover costs (such as hiring and firing costs)...

MoreLess

Year of publication:	2008-05-01
Authors:	Lechthaler, Wolfgang ; Merkl, Christian ; Snower, Dennis J.
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Keynes, John Maynard / General theory of employment, interest and money \| Schock <Wirtschaft>

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	270336 bytes 29 p. application/pdf
Series:	Universität Bonn - Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA) - Discussion Papers in 2008 Discussion Paper ; 3513 (2008)
Type of publication:	Book / Working Paper
Language:	English
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 ; Personnel administration. Other aspects ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005859640