Disinflation with labor market frictions

Jong Shin and Chetan Subramanian

Journal of Macroeconomics, 2014, vol. 41, issue C, 1-15

Abstract: This paper studies disinflationary shocks in a non-linear New Keynesian model with search and matching frictions and moral hazard in the labor markets. Our focus is on understanding the wage formation process as well as welfare costs of disinflations in the presence of such labor market frictions.

Keywords: Disinflation; Labor market frictions; Welfare costs (search for similar items in EconPapers)
JEL-codes: E24 E31 J64 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:41:y:2014:i:c:p:1-15

DOI: 10.1016/j.jmacro.2014.03.008

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