Lechthaler, Wolfgang (contributor); … - 2008
question about whether monetary shocks are equally persistent in Eu-
rope and the US. In recent studies in this area, the … real wage rigidity affects different aspects of the model outcome (e.g.,
monetary persistence, optimal monetary policy or the … of monetary
policy.
6
Thus, the labor market rigidities of our model are microfounded and
the monetary policy …