Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/19607
Autor:innen: 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
Discussion Paper Series 1 No. 2005,22
Verlag: 
Deutsche Bundesbank, Frankfurt a. M.
Zusammenfassung: 
What is the role of contracting schemes for the welfare costs of nominal rigidities over the business cycle? We examine 4 different modeling schemes of nominal rigidities that all have the same average duration of contracts. We find that Calvo (1983) wage and price contracts may deliver welfare costs that are 3-4 times higher than Taylor (1980) contracts. However, that result is sensitive to the monetary policy rule. We discuss the implications of modeling capital mobility and of adopting the Mankiw and Reis (2002) sticky information scheme for the welfare costs of nominal rigidities.
Schlagwörter: 
welfare
Calvo
Taylor
sticky information
costs of nominal rigidities
JEL: 
E32
E52
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
639.74 kB





Publikationen in EconStor sind urheberrechtlich geschützt.