Real Wage Rigidities and the Cost of Disinflations

This paper analyzes the cost of disinflations under real wage rigidities in a micro-founded New Keynesian model. The conventional view is that real wage rigidities can be a useful mechanism to generate a slump in output after a credible disinflationary policy because they prevent the immediate adjus...

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Bibliographic details
Volume: 41
Main Author: Guido Ascari
Christian Merkl
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: Malden, USA Wiley Subscription Services 01.03.2009
Blackwell Publishing Inc
WILEY-BLACKWELL PUBLISHING, INC
Wiley Periodicals, Inc
published in: Journal of money, credit and banking Vol. 41; no. 2/3; pp. 417 - 435
Data of publication: 20090301
ISSN: 0022-2879
1538-4616
EISSN: 1538-4616
Discipline: Economics
Business
Bibliography: We would like to thank Jean‐Pascal Bénassy, Jordi Galí, Paul J. Kramer, Tiziano Ropele, Leo von Thadden, Roland Winkler, the participants of the IfW Symposium on “The Phillips Curve and the Natural Rate of Unemployment,” the Bundesbank‐IWH workshop on “Monetary and Financial Economics,” the Annual Meeting of the German Economic Association, and the European Meeting of the Econometric Society, and two anonymous referees for very helpful comments.
Subjects:
E50
E31
E50
E31
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Science - Social Sciences Citation Index - 2009
Web of Knowledge
Web of Science
CrossRef
Database information Databases - DBIS