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- W2004337239 abstract "Abstract Recent work in macroeconomics examines the implications of sticky nominal wage contracts for the behavior of the price level and real output. A crucial assumption of this work is a rule which relates the real wage and employment. This paper derives the optimal employment rule for a sticky nominal wage contract and examines the properties of this rule under different assumptions about the utility functions of workers and entrepreneurs. The optimal employment rule for a flexible nominal wage contract is also derived and analyzed for comparative purposes." @default.
- W2004337239 created "2016-06-24" @default.
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- W2004337239 date "1981-01-01" @default.
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- W2004337239 title "Sticky nominal wages and the optimal employment rule" @default.
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- W2004337239 doi "https://doi.org/10.1016/0304-3932(81)90033-7" @default.
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