Nominal wage rigidities in a new Keynesian model with frictional unemployment

Arbeitspapier

In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple shocks. The model generates realistic statistics for the important labor market variables

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: NBB Working Paper ; No. 97

Classification and Topics

• Classification: Wirtschaft ; Price Level; Inflation; Deflation ; Business Fluctuations; Cycles ; Monetary Policy ; Unemployment: Models, Duration, Incidence, and Job Search
• Subject: DSGE ; Search and Matching ; Nominal Wage Rigidity ; Monetary Policy ; Lohnrigidität ; Verhandlungstheorie des Lohnes ; Dynamisches Gleichgewicht ; Theorie ; USA

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Bodart, Vincent ; De Walque, Gregory ; Pierrard, Olivier ; Sneessens, Henri R. ; Wouters, Raf
• Event: Veröffentlichung
• (who): National Bank of Belgium
• (where): Brussels
• (when): 2006

Further information

• Handle: http://hdl.handle.net/10419/144311
• Last update: 10.03.2025, 11:42 AM CET