Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/3956 
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dc.contributor.authorAscari, Guidoen
dc.contributor.authorMerkl, Christianen
dc.date.accessioned2009-01-28T14:15:57Z-
dc.date.available2009-01-28T14:15:57Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1312en
dc.subject.jelE52en
dc.subject.jelE31en
dc.subject.ddc330en
dc.subject.keywordSticky Pricesen
dc.subject.keywordReal Rigiditiesen
dc.subject.keywordDisinflationen
dc.subject.stwReallohnen
dc.subject.stwLohnrigiditäten
dc.subject.stwArbeitslosigkeiten
dc.subject.stwGeldpolitisches Zielen
dc.subject.stwUngleichgewichtstheorieen
dc.subject.stwNew-Keynesian Phillips Curveen
dc.titleReal wage rigidities and the cost of disinflations: A comment on Blanchard and Galí-
dc.typeWorking Paperen
dc.identifier.ppn523976569en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1312en

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