Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19607 
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dc.contributor.authorPaustian, Matthiasen
dc.date.accessioned2009-01-28T16:01:25Z-
dc.date.available2009-01-28T16:01:25Z-
dc.date.issued2005-
dc.identifier.urihttp://hdl.handle.net/10419/19607-
dc.description.abstractWhat 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
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2005,22en
dc.subject.jelE32en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordwelfareen
dc.subject.keywordCalvoen
dc.subject.keywordTayloren
dc.subject.keywordsticky informationen
dc.subject.keywordcosts of nominal rigiditiesen
dc.subject.stwGeldpolitiken
dc.subject.stwLohnrigiditäten
dc.subject.stwLohnbildungen
dc.subject.stwWohlfahrtseffekten
dc.subject.stwTheorieen
dc.titleThe role of contracting schemes for the welfare costs of nominal rigidities over the business cycle-
dc.typeWorking Paperen
dc.identifier.ppn495862789en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:4216en

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