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dc.contributor.authorAscari, Guidoen_US
dc.contributor.authorMerkl, Christianen_US
dc.date.accessioned2009-01-28T14:15:57Z-
dc.date.available2009-01-28T14:15:57Z-
dc.date.issued2007en_US
dc.identifier.citationKiel working paper Institut für Weltwirtschaft, Kiel 1312en_US
dc.identifier.urihttp://hdl.handle.net/10419/3956-
dc.description.abstractThis paper analyzes the cost of disinflation under real wage rigidities in a micro-founded New Keynesian model. Unlike Blanchard and Galí (2007) who carried out a similar analysis in a linearized framework, we take non- linearities into account. We show that the results change dramatically, both qualitatively and quantitatively, for the steady states and for the dynamic adjustment paths. In particular, a disinflation implies a prolonged slump without any need for real wage rigidities.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKieler Arbeitspapiere 1312en_US
dc.subject.jelE52en_US
dc.subject.jelE31en_US
dc.subject.ddc330-
dc.subject.keywordDisinflationen_US
dc.subject.keywordSticky Prices-
dc.subject.keywordReal Rigidities-
dc.subject.stwReallohnen_US
dc.subject.stwLohnrigiditäten_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwGeldpolitisches Zielen_US
dc.subject.stwUngleichgewichtstheorieen_US
dc.subject.stwNew-Keynesian Phillips Curveen_US
dc.titleReal wage rigidities and the cost of disinflations: A comment on Blanchard and Galíen_US
dc.typeWorking Paperen_US
dc.identifier.ppn523976569en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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Kieler Arbeitspapiere, IfW

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