| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16764 |
| DP16764 Macroeconomic Dynamics with Rigid Wage Contracts | |
| Tobias Broer; Karl Harmenberg; Erik Öberg | |
| 发表日期 | 2021-12-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We adapt the wage contracting structure in Chari (1983) to a dynamic, balanced-growth setting with re-contracting à la Calvo (1983). The resulting wage-rigidity framework delivers a model very similar to that in Jaimovich and Rebelo (2009), with their habit parameter replaced by our probability of wage-contract resetting. That is, if wage contracts can be reset very frequently, labor supply behaves in accordance with King et al. (1988) preferences, whereas if they are sticky for a long time, we obtain the setting in Greenwood et al. (1988), thus allowing significant responses of hours to wage changes. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp16764 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545698 |
| 推荐引用方式 GB/T 7714 | Tobias Broer,Karl Harmenberg,Erik Öberg. DP16764 Macroeconomic Dynamics with Rigid Wage Contracts. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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