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Employment, hours and optimal monetary policy

Maarten Dossche (), Vivien Lewis () and Céline Poilly ()

No 1713, Working Paper Series from European Central Bank

Abstract: We characterize optimal monetary policy in a New Keynesian search-and-matching model where multiple-worker firms satisfy demand in the short run by adjusting hours per worker. Imperfect product market competition and search frictions reduce steady state hours per worker below the efficient level. Bargaining results in a convex JEL Classification: E30, E50, E60

Keywords: employment; hours; optimal monetary policy; wage curve (search for similar items in EconPapers)
Date: 2014-08
New Economics Papers: this item is included in nep-dge, nep-lab, nep-mac and nep-mon
Note: 3577821
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Related works:
Working Paper: Employment, hours and optimal monetary policy (2015) Downloads
Working Paper: Employment, hours and optimal monetary policy (2014) Downloads
Working Paper: Employment, hours and optimal monetary policy (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20141713

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