The Micro and Macro of Downward Nominal Wage Rigidity
Stefano Gnocchi () and
Bank of Canada Review, 2016, vol. 2016, issue Spring, 15-28
The article examines the extent of downward nominal wage rigidity in Canada and its implications for monetary policy. The authors ask whether its existence is a sufficient argument for a higher inflation target if concerns about the effective lower bound are adequately addressed.
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