Arbeitspapier
Quadratic labor adjustment costs, business cycle dynamics and optimal monetary policy
We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this increases output persistence in a similar vein as other models of labor market frictions. Furthermore, it is demonstrated that quadratic labor adjustment costs imply a trade off between stabilizing output and stabilizing inflation.
- Sprache
-
Englisch
- Erschienen in
-
Series: Kiel Working Paper ; No. 1453 [rev.]
- Klassifikation
-
Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Business Fluctuations; Cycles
Monetary Policy
Labor Demand
- Thema
-
Monetary Persistence
Labor Adjustment Costs
Optimal Monetary Policy
Preisrigidität
Arbeitsmarkt
Anpassungskosten
Neoklassische Synthese
Konjunkturtheorie
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lechthaler, Wolfgang
Snower, Dennis J.
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Lechthaler, Wolfgang
- Snower, Dennis J.
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2011
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