Unions, monetary shocks and the labour market cycle
نویسندگان
چکیده
منابع مشابه
Labour market search and monetary shocks
In recent years, dynamic stochastic general equilibrium (DSGE) models of monetary economies have focused on the role of nominal rigidities in affecting the economy’s adjustment to monetary policy and non-policy disturbances. While these rigidities appear important for understanding the impact nominal shocks have on such real variables as output and employment, models with only nominal rigiditie...
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A number of recent papers have focused on the role of real factors in accounting for the persistent effects of monetary shocks. These factors include habit persistence in consumption, variable capital utilization, and produced inputs. In this chapter, I focus on labor market rigidities that prevent unemployed workers from Þnding new jobs immediately and Þrms with job vacancies from Þlling them ...
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ژورنال
عنوان ژورنال: Economic Modelling
سال: 2011
ISSN: 0264-9993
DOI: 10.1016/j.econmod.2010.12.001