Show simple item record

dc.creatorCasares Polo, Migueles_ES
dc.date.accessioned2016-05-10T07:40:37Z
dc.date.available2016-05-10T07:40:37Z
dc.date.issued2007
dc.identifier.urihttps://hdl.handle.net/2454/20642
dc.description.abstractFollowing Erceg et al. (2000), sticky wages are generally modelled assuming that households set wage contracts à la Calvo (1983). This paper compares that sticky-wage model with one where wage contracts are set by firms, assuming flexible prices in any case. The key variable for wage dynamics moves from the marginal rate of substitution (households set wages) to the marginal product of labor (firms set wages). Optimal monetary policy in both cases fully stabilizes wage inflation and the output gap after technology or preference innovations. However, nominal shocks make the assumption on who set wages relevant for optimal monetary policy.en
dc.description.sponsorshipFinancial support was provided by the Spanish Ministry of Education and Science (Postdoc Fellowships Program and Research Project SEJ2005-03470/ECON).en
dc.format.extent34 p.
dc.format.mimetypeapplication/pdfen
dc.language.isoengen
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.relation.ispartofseries0701en
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectWage setting householdsen
dc.subjectWage setting firmsen
dc.subjectOptimal monetary policyen
dc.titleWage setting actors, sticky wages, and optimal monetary policyen
dc.typeDocumento de trabajo / Lan gaiakes
dc.typeinfo:eu-repo/semantics/workingPaperen
dc.contributor.departmentUniversidad Pública de Navarra. Departamento de Economíaes_ES
dc.contributor.departmentNafarroako Unibertsitate Publikoa. Ekonomia Sailaeu
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record

CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Except where otherwise noted, this item's license is described as CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)