EconStor >
Universität Siegen >
Fakultät III: Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht, Universität Siegen >
Volkswirtschaftliche Diskussionsbeiträge, Universität Siegen >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/23293
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorGail, Michaelen_US
dc.date.accessioned2009-01-29T15:58:19Z-
dc.date.available2009-01-29T15:58:19Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/23293-
dc.description.abstractIn this paper a stochastic dynamic general equilibrium (DGE) model with capital accumulation is augmented by sticky wages. Wages are set in a staggered way as in Taylor (1980) implying that the optimal wage will be set for two periods. Prices are also sticky since there are adjustments cost of prices as in Rotemberg (1982). It is confirmed that wage staggering has a higher potential to generate persistent output responses to a money growth shock. Interestingly, adjustment costs of capital contribute strongly to output persistence. If it is not costly to adjust capital there is no output persistence at all. Price adjustment costs can strengthen the effects of money growth shocks on output in the presence of costly capital adjustment.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesVolkswirtschaftliche Diskussionsbeiträge / Universität-Gesamthochschule-Siegen, Fachbereich Wirtschaftswissenschaften 114en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordMonetary Policyen_US
dc.subject.keywordNew Neoclassical Synthesisen_US
dc.subject.keywordSticky Wagesen_US
dc.subject.keywordSticky Pricesen_US
dc.subject.keywordPersistenceen_US
dc.subject.keywordReal Business Cycleen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwReal Business Cycleen_US
dc.subject.stwDynamisches Gleichgewichten_US
dc.subject.stwNeue Neoklassische Syntheseen_US
dc.subject.stwLohnrigiditäten_US
dc.subject.stwPreisrigiditäten_US
dc.subject.stwTheorieen_US
dc.titleSticky Wages in a Stochastic DGE Model of the Business Cycleen_US
dc.typeWorking Paperen_US
dc.identifier.ppn393402053en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Volkswirtschaftliche Diskussionsbeiträge, Universität Siegen

Files in This Item:
File Description SizeFormat
114-04.pdf468.9 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.