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- W2149586267 abstract "The labor market is receiving increasing attention in the New Keynesian literature. In this paper I critically survey this literature in order to highl ight the role played by wage rigidities in the explanation of fluctuations caused by technology sh ocks. To this aim, I present a DSGE model with sticky prices, nominal wage rigidities, and hiring costs. The comparison between this model and Blanchard and Gali (2006) highlights the non trivia l differences which exist in the way nominal wage and real wage rigidities drive the economy’s d ynamics. My conclusion is that models incorporating nominal wage rigidities and some degr ee of price stickiness provide a better account of macroeconomic dynamics than models with real wage rigidities." @default.
- W2149586267 created "2016-06-24" @default.
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- W2149586267 date "2007-05-01" @default.
- W2149586267 modified "2023-09-27" @default.
- W2149586267 title "New Keynesian models with labor market rigidities: a critical survey *" @default.
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