کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5067120 1372569 2011 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Contract length heterogeneity and the persistence of monetary shocks in a dynamic generalized Taylor economy
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Contract length heterogeneity and the persistence of monetary shocks in a dynamic generalized Taylor economy
چکیده انگلیسی

We develop the generalized Taylor economy (GTE) in which there are many sectors with overlapping contracts of different lengths. In economies with the same average contract length, monetary shocks will be more persistent when longer contracts are present. Using the Bils-Klenow distribution of contract lengths, we find that the corresponding GTE tracks the U.S. data well. When we choose a GTE with the same distribution of completed contract lengths as the Calvo, the economies behave in a similar manner.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 55, Issue 2, February 2011, Pages 280-292
نویسندگان
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