Productivity growth and volatility: How important are wage and price rigidities?
Barbara Annicchiarico () and
Alessandra Pelloni ()
wp.comunite from Department of Communication, University of Teramo
We study the implications of having different sources of nominal rigidities on the relationship between productivity growth and shocks volatility in a model with procyclical R&D and imperfect competition in goods and labour markets. We show that the effects of uncertainty on long-term growth not only depends on the source of fluctuations, as recent literature shows, but also, and crucially, on whether prices and/or wages are rigid.
Keywords: productivity; growth; volatility (search for similar items in EconPapers)
JEL-codes: E32 E52 O42 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg and nep-mac
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Journal Article: Productivity growth and volatility: how important are wage and price rigidities? (2014)
Working Paper: Productivity Growth and Volatility: How Important Are Wage and Price Rigidities? (2013)
Working Paper: Productivity Growth and Volatility: How Important are Wage and Price Rigidities? (2011)
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Persistent link: http://EconPapers.repec.org/RePEc:ter:wpaper:0089
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