Shocks and frictions under right-to-manage wage bargaining : a transatlantic perspective

Consolo, Agostino; Hertweck, Matthias Sebastian

Shocks and frictions under right-to-manage wage bargaining : a transatlantic perspective

Dateien

Zu diesem Dokument gibt es keine Dateien.

Datum

2010

Autor:innen

Consolo, Agostino

Hertweck, Matthias Sebastian

Schriftenreihe

WWZ Discussion Papers ; 2010,1

URI (zitierfähiger Link)

http://nbn-resolving.de/urn:nbn:de:bsz:352-147429

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Working Paper/Technical Report

Publikationsstatus

Published

Zusammenfassung

This paper introduces staggered right-to-manage wage bargaining into a New Keynesian business cycle model. Our key result is that the model is able to generate persistent responses in output, inflation, and total labor input to both neutral technology and monetary policy shocks. Furthermore, we compare the model's dynamic behavior when calibrated to the US and to an European economy. We find that the degree of price rigidity explains most of the differences in response to a monetary policy shock. When the economy is hit by a neutral technology shock, both price and wage rigidities turn out to be important.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

business cycles, labor market search, wage bargaining, inflation

Zitieren

ISO 690

CONSOLO, Agostino, Matthias Sebastian HERTWECK, 2010. Shocks and frictions under right-to-manage wage bargaining : a transatlantic perspective

BibTex

@techreport{Consolo2010Shock-14742,
  year={2010},
  series={WWZ Discussion Papers ; 2010,1},
  title={Shocks and frictions under right-to-manage wage bargaining : a transatlantic perspective},
  author={Consolo, Agostino and Hertweck, Matthias Sebastian}
}

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Universitätsbibliographie

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