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Optimizing Agents, Staggered Wages and Persistence in the Real Effects of Money Shocks
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Optimizing Agents, Staggered Wages and Persistence in the Real Effects of Money Shocks

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  • Ascari, G.

Abstract

In this paper we incorporate staggered wage setting a la Taylor (1979) into an optimizing dynamic general equilibrium framework. The aim is to study whether staggered wages could induce a high degree of persistence in the real effects of money shocks, as some recent studies have suggested.

Suggested Citation

  • Ascari, G., 1997. "Optimizing Agents, Staggered Wages and Persistence in the Real Effects of Money Shocks," The Warwick Economics Research Paper Series (TWERPS) 486, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:486
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    Keywords

    WAGES ; OPTIMIZATION;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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