Sticky Wages in a Full Employment Monetary Economy with Efficient Risk Sharing

M. Puhakka

University of Helsinki, Department of Economics from Department of Economics

Abstract: We study a full employment monetary economy, where labor is allocated through contracts. We generalize and extend the sticky wage result of Rogerson an Wright. Our model is different from theirs in two respects. Labor is devisible, and hence unemployment is not possible in our model. And in addition to nominal uncertainty we allow real uncertainty.

Keywords: WAGES; RISK; CONTRACTS (search for similar items in EconPapers)
JEL-codes: E31 E50 J41 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fth:helsec:496

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