Now showing items 1-2 of 2
Wage stickiness and unemployment fluctuations: an alternative approach
(2009) Documento de trabajo / Lan gaiak,
Erceg, Henderson and Levin (2000, Journal of Monetary Economics) introduce sticky wages in a New-Keynesian general-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations ...
Sticky prices, sticky wages, and also unemployment
(2008) Documento de trabajo / Lan gaiak,
This paper shows a New Keynesian model where wages are set at the value that matches household's labor supply with firm's labor demand. Subsequently, wage stickiness brings industry-level unemployment fluctuations. After ...