The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics /
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The mode...
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| Format: | Book |
| Language: | English |
| Published: |
Frankfurt am Main :
Deutsche Bundesbank,
2006
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| Series: | Discussion paper (Deutsche Bundesbank). Series 1: economic studies ;
no. 11/2006 |
| Subjects: | |
| Online Access: | http://www.bundesbank.de/Redaktion/EN/Downloads/Publications/Discussion_Paper_1/2006/2006_03_14_dkp_11.pdf?__blob=publicationFile |
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