Price/Wage Staggering and Persistence: A Unifying Framework

Guido Ascari

Journal of Economic Surveys, 2003, vol. 17, issue 4, 511-540

Abstract: Abstract. In this paper, we provide a general unified framework to clarify the issue of persistence of real effects of money shocks in staggered wage/price models. We mainly aim to: (i) highlight which features of the underlying economy, and particularly of the labour market, are crucial for generating output persistence; (ii) analyse the differences between price and wage staggering.

Date: 2003
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