کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055844 1371502 2009 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Wage setting actors and sticky wages: Implications for the business cycle and optimal monetary policy
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Wage setting actors and sticky wages: Implications for the business cycle and optimal monetary policy
چکیده انگلیسی

Two sticky-wage models are introduced in this paper to examine the implications of having either households or firms as wage setting actors. The rate of wage inflation depends positively on the output gap if households set wages whereas such a relationship is of negative sign when firms set wages. Moreover, impulse-response functions and the statistical comparison with US data show different business cycle properties depending upon wage setting actors. Finally, optimal monetary policy is derived for each case, and compared with a Taylor-type monetary policy rule.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 26, Issue 3, May 2009, Pages 571-585
نویسندگان
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