Anmerkungen:
In: Journal of Economic Surveys, Vol. 17, pp. 511-540, September 2003
Beschreibung:
In this paper, we provide a general unified framework to clarify the issue of persistence of real effects of money shocks in staggered wage/price models. We mainly aim to: (i) highlight which features of the underlying economy, and particularly of the labour market, are crucial for generating output persistence; (ii) analyse the differences between price and wage staggering