Informationally Sticky Nominal Wages

Jennifer La'O and Luigi Iovino

No 1517, 2017 Meeting Papers from Society for Economic Dynamics

Abstract: We study a class of economies in which incomplete information is the source of nominal price, nominal wage, and real frictions. Firms make nominal price-setting and real production decisions under imperfect information about the state of the economy. Workers also make nominal wage-setting decisions under imperfect information. We characterize both optimal fiscal and monetary policy within this class.

Date: 2017
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed017:1517

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