| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 10478283 | Journal of Macroeconomics | 2005 | 9 Pages |
Abstract
In a model with rigid nominal wages, full information and competitive product markets, I show that when an effort augmented production function is incorporated into an analysis of supply and demand shocks, the outcomes are in line with traditional Keynesian analysis for a wide range of parameter values. Monetary shocks can increase output and employment.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Frank Walsh,