Christoffel, Kai; Kuester, Keith; Linzert, Tobias - 2009
labor market would alter the business cycle behaviour and the transmission of monetary policy. We find that while a lower …, the importance of other labor market rigidities for the transmission of shocks is rather limited. Second, having estimated … the model by Bayesian techniques we analyze to which extent labor market shocks, such as disturbances in the vacancy …