Optimizing Agents, Staggered Wages and Persistence in the Real Effects of Money Shocks

In this paper we incorporate staggered wage setting a la Taylor (1979) into an optimizing dynamic general equilibrium framework. The aim is to study whether staggered wages could induce a high degree of persistence in the real effects of money shocks, as some recent studies have suggested.

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Year of publication:	1997
Authors:	Ascari, G.
Institutions:	Department of Economics, University of Warwick
Subject:	WAGES \| OPTIMIZATION

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Series:	The Warwick Economics Research Paper Series (TWERPS).
Type of publication:	Book / Working Paper
Notes:	28 pages
Classification:	E31 - Price Level; Inflation; Deflation ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005368753