Real wage rigidity and the Taylor principle

Eurilton Araújo

Economics Letters, 2009, vol. 104, issue 1, 46-48

Abstract: This paper investigates conditions for equilibrium determinacy in the basic new Keynesian model with real wage rigidity. The determinacy region is increased under forward-looking rules and the Taylor principle continues to ensure equilibrium uniqueness under current-looking rules.

Keywords: Real; wage; rigidity; Determinacy; Inflation; targeting (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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Working Paper: Real Wage Rigidity and the Taylor Principle (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:104:y:2009:i:1:p:46-48

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