|
EconStor >
Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/19607
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Paustian, Matthias | | en_US |
| dc.date.accessioned | | 2009-01-28T16:01:25Z | | - |
| dc.date.available | | 2009-01-28T16:01:25Z | | - |
| dc.date.issued | | 2005 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/19607 | | - |
| dc.description.abstract | | 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. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.relation.ispartofseries | | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,22 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | welfare | | en_US |
| dc.subject.keyword | | Calvo | | en_US |
| dc.subject.keyword | | Taylor | | en_US |
| dc.subject.keyword | | sticky information | | en_US |
| dc.subject.keyword | | costs of nominal rigidities | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Lohnrigidität | | en_US |
| dc.subject.stw | | Lohnbildung | | en_US |
| dc.subject.stw | | Wohlfahrtseffekt | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 495862789 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:bubdp1:4216 | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|