Optimizing Agents, Staggered Wages and Persistence in the Real Effects of Money Shocks

Guido Ascari ()

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: In this paper we incorporate staggered wage setting a la Taylor (1979) into an optimizing dynamic general equilibrium framework. The aim is to study whether staggered wages could induce a high degree of persistence in the real effects of money shocks, as some recent studies have suggested.

Keywords: WAGES; OPTIMIZATION (search for similar items in EconPapers)
JEL-codes: E31 E32 (search for similar items in EconPapers)
Date: 1997
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Journal Article: Optimising Agents, Staggered Wages and Persistence in the Real Effects of Money Shocks (2000)
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Persistent link: http://EconPapers.repec.org/RePEc:wrk:warwec:486

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