Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/69546
Authors: 
Heer, Burkhard
Klarl, Torben
Maußner, Alfred
Year of Publication: 
2012
Series/Report no.: 
CESifo Working Paper: Policy, Macroeconomics and Growth 4041
Abstract: 
De Paoli, Scott, and Weeken [2010, Asset pricing implications of a New Keynesian model. Journal of Economic Dynamics and Control 34, 2056-73] study equity and bonds prices in a New Keynesian model with sticky nominal prices. This note argues that their model generates a behavior of the labor market variables that is contrary to empirical evidence and, as remedy for this deficiency, suggests a model with both sticky nominal wages and prices.
Subjects: 
equity premium
New Keynesian Model
nominal rigidities
JEL: 
E44
E43
G12
Document Type: 
Working Paper

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