Endogenous Growth, Monetary Shocks and Nominal Rigidities

Barbara Annicchiarico, Alessandra Pelloni and Lorenza Rossi

No 187, CEIS Research Paper from Tor Vergata University, CEIS

Abstract: We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth depends on the persistence of the nominal shocks and on the Taylor rule considered; (iii) a Taylor rule with smoothing increases the negative effect of nominal volatility on mean growth.

Keywords: Growth; volatility; business cycle; monetary policy (search for similar items in EconPapers)
JEL-codes: E32 E52 O42 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2011-03-08, Revised 2011-03-08
New Economics Papers: this item is included in nep-cba, nep-fdg, nep-mac, nep-mic and nep-mon
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Citations: View citations in EconPapers (22)

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Related works:
Journal Article: Endogenous growth, monetary shocks and nominal rigidities (2011)
Working Paper: Endogenous Growth, Monetary Shocks and Nominal Rigidities (2010)
Working Paper: Endogenous Growth, Monetary Shocks and Nominal Rigidities (2010)
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