A Keynesian Model of Nominal Wage Rigidity

Sergio Werlang

Brazilian Review of Econometrics, 1990, vol. 10, issue 1

Abstract: We present a Model that reflects Keynes' intuition concerning nominal wage rigidity: workers like to keep their relative status on society. Several results are presented, including the analysis of the influence of risk aversion. The appendix has two new results on symmetric games.

Date: 1990
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