Nominal rigidities and the dynamic effects of a shock to monetary policy / Lawrence J. Christiano, Martin Eichenbaum, Charles Evans.
Tipo de material: TextoSeries Serie seminarios ; no. 16 / 2001Detalles de publicación: Buenos Aires : Instituto y Universidad Torcuato Di Tella, 2001Descripción: 47 pTema(s): Clasificación CDD:- 21 332.46
Tipo de ítem | Biblioteca actual | Signatura | Estado | Fecha de vencimiento | Código de barras |
---|---|---|---|---|---|
Documento | Biblioteca Manuel Belgrano | F 332.46 Ch 19880 (Navegar estantería(Abre debajo)) | Disponible | 19880 F |
Bibliografia: p. 38-41.
We present a model embodying moderate amounts of nominal rigidities which accounts for the observed inertia in inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average duration three quarters, and variable capital utilization.
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