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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2006
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10010295799
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10011604602
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …
Persistent link: https://www.econbiz.de/10003227218
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - Deutsche Bundesbank - 2006
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10005083106
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The inflation-output tradeoff: which type of labor market rigidity is to be blamed?
Merkl, Christian - 2009
inflation and the stabilization of the welfare relevant output gap after a productivity shock hits the economy. When the … standard model is enhanced by real wage rigidities or labor turnover costs, an endogenous short-run inflation-output tradeoff … rigidities. Second, labor turnover costs are the dominant source for the inflation-output tradeoff when both rigidities are …
Persistent link: https://www.econbiz.de/10010277953
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Equilibrium unemployment, job flows and inflation dynamics
Trigari, Antonella - 2004
In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …
Persistent link: https://www.econbiz.de/10009636527
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From micro to macro hysteresis : long-run effects of monetary policy
Alves, Felipe; Violante, Giovanni L. - 2024 - Last updated: October 24, 2024
We develop a Heterogeneous Agent New Keynesian model with a three-state frictional labour market that is consistent with the empirical evidence that (i) low-skilled workers are more exposed to the business cycle, (ii) displacement leads to long-lasting earnings losses, and (iii) unemployment is...
Persistent link: https://www.econbiz.de/10015098505
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai - 2016
Persistent link: https://www.econbiz.de/10012991192
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The Role of Real Wage Rigidity and Labor Market Frictions for Unemployment and Inflation Dynamics
Christoffel, Kai - 2006
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …
Persistent link: https://www.econbiz.de/10012783591
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Sequential bargaining in a New Keynesian model with frictional unemployment and staggered wage negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009
inflation persistence. The closer to zero this parameter, (i) the more firms tend to adjust on the intensive margin, reducing … wage in determining the marginal cost. This set-up produces realistic labour market figures together with inflation …
Persistent link: https://www.econbiz.de/10011599072