The American Economic Review, Volume 97American Economic Association., 2007 |
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Página 591
where σ , is the elasticity of labor supply with respect to the real wage and λ is the habit parameter in consumption . Similarly , due to nominal wage stickiness and partial indexation of wages to inflation , real wages adjust only ...
where σ , is the elasticity of labor supply with respect to the real wage and λ is the habit parameter in consumption . Similarly , due to nominal wage stickiness and partial indexation of wages to inflation , real wages adjust only ...
Página 655
... wage , the model's setup with Calvo - style wage setting implies that at each point in time the aggregate wage is a weighted average of the aggregate wage prevailing in the previous period ( the " preset " wage ) and of the " optimal " wage ...
... wage , the model's setup with Calvo - style wage setting implies that at each point in time the aggregate wage is a weighted average of the aggregate wage prevailing in the previous period ( the " preset " wage ) and of the " optimal " wage ...
Página 656
... wage and solid lines - plus asterisks are the responses of the optimal real wage . FIGURE 18. MODEL AND VAR IMPULSE RESPONSES OF THE AGGREGATE. 08 0.8 0.6 0.6 0.4 0.4 0.2 0.2 0 0 1 2 3 4 5 6 7 1 2 3 4 5 6 -0.2 -0.2 -0.4 -0.4 -0.6 -0.6 ...
... wage and solid lines - plus asterisks are the responses of the optimal real wage . FIGURE 18. MODEL AND VAR IMPULSE RESPONSES OF THE AGGREGATE. 08 0.8 0.6 0.6 0.4 0.4 0.2 0.2 0 0 1 2 3 4 5 6 7 1 2 3 4 5 6 -0.2 -0.2 -0.4 -0.4 -0.6 -0.6 ...
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ALMA COHEN AND LIRAN EINAV | 745 |
MARIA MARTA FERREYRA | 789 |
ALEXANDER W CAPPELEN ASTRI DRANGE HOLE ERIK Ø SØRENSEN | 818 |
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