Nominal wage rigidities in a new Keynesian model with frictional unemployment
Grégory de Walque (),
Olivier Pierrard (),
Henri Sneessens () and
Raf Wouters ()
No 97, Working Paper Research from National Bank of Belgium
In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple shocks. The model generates realistic statistics for the important labor market variables
Keywords: DSGE; Search and Matching; Nominal Wage Rigidity; Monetary Policy (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 J64 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-dge and nep-mac
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Working Paper: Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:nbb:reswpp:200610-9
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