Inflation Dynamics and Labor Market Dynamics Revisited

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17880

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DC Field	Value	Language
dc.creator	Sveen, Tommy	-
dc.creator	Weinke, Lutz	-
dc.date	2007	-
dc.date.accessioned	2013-10-16T06:57:11Z	-
dc.date.available	2013-10-16T06:57:11Z	-
dc.date.issued	2013-10-16	-
dc.identifier	http://hdl.handle.net/10419/17880	-
dc.identifier	ppn:535033672	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/17880	-
dc.description	Firms adjust labor both at the intensive and at the extensive margin (see, e.g., Hansen and Sargent 1988). Moreover, employment adjustment is not frictionless (see, e.g., Mortensen and Pissarides 1994). What does this imply for inflation dynamics? To address this question we develop a New Keynesian model featuring two margins of labor adjustment as well as a simultaneous price-setting and employment decision at the firm level. We find that the presence of an empirically plausible labor adjustment decision at the firm level rationalizes strategic complementarities in price-setting which help explain inflation dynamics.	-
dc.language	eng	-
dc.publisher	Kiel Institute for the World Economy (IfW) Kiel	-
dc.relation	Kieler Arbeitspapiere 1368	-
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen	-
dc.subject	ddc:330	-
dc.title	Inflation Dynamics and Labor Market Dynamics Revisited	-
dc.type	doc-type:workingPaper	-
Appears in Collections:	EconStor

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