Interacting nominal and real labour market rigidities

Lukas Vogel

Economics Letters, 2011, vol. 111, issue 3, 264-267

Abstract: The note analyses interactions between nominal wage stickiness and costly employment adjustment under rule-based and optimal monetary policy. Policy regimes affect and optimal policy lowers the welfare cost of rigidities. No quantitatively important second-best interaction between both rigidities is found.

Keywords: Wage; stickiness; Employment; adjustment; costs; Second; best (search for similar items in EconPapers)
Date: 2011
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Related works:
Working Paper: Interacting nominal and real labour market rigidities (2010)
Working Paper: Interacting nominal and real labour market rigidities (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:111:y:2011:i:3:p:264-267

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