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Productivity Growth and Volatility: How Important Are Wage and Price Rigidities?

Barbara Annicchiarico () and Alessandra Pelloni ()

Working Paper series from Rimini Centre for Economic Analysis

Abstract: We study the implications of having different sources of nominal rigidities on the relationship between productivity growth and shocks volatility in a model with pro-cyclical R&D and imperfect competition in goods and labour markets. We show that the effects of uncertainty on long-term growth not only depend on the source of fluctuations, as recent literature shows, but also, and crucially, on whether prices and/or wages are rigid.

Keywords: Productivity growth; volatility; nominal rigidities; uncertainty (search for similar items in EconPapers)
JEL-codes: E32 E52 O42 (search for similar items in EconPapers)
Date: 2013-01
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Related works:
Journal Article: Productivity growth and volatility: how important are wage and price rigidities? (2014) Downloads
Working Paper: Productivity Growth and Volatility: How Important are Wage and Price Rigidities? (2011) Downloads
Working Paper: Productivity growth and volatility: How important are wage and price rigidities? (2011) Downloads
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