| dc.creator |
Ascari, Guido |
|
| dc.creator |
Merkl, Christian |
|
| dc.date |
2007 |
|
| dc.date.accessioned |
2013-10-16T06:04:17Z |
|
| dc.date.available |
2013-10-16T06:04:17Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
Kiel working paper Institut für Weltwirtschaft, Kiel 1312 |
|
| dc.identifier |
http://hdl.handle.net/10419/3956 |
|
| dc.identifier |
ppn:523976569 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/3956 |
|
| dc.description |
This paper analyzes the cost of disinflation under real wage rigidities in a micro-founded New Keynesian model. Unlike Blanchard and Galí (2007) who carried out a similar analysis in a linearized framework, we take non- linearities into account. We show that the results change dramatically, both qualitatively and quantitatively, for the steady states and for the dynamic adjustment paths. In particular, a disinflation implies a prolonged slump without any need for real wage rigidities. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
Kieler Arbeitspapiere 1312 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
E52 |
|
| dc.subject |
E31 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Disinflation |
|
| dc.subject |
Sticky Prices |
|
| dc.subject |
Real Rigidities |
|
| dc.subject |
Reallohn |
|
| dc.subject |
Lohnrigidität |
|
| dc.subject |
Arbeitslosigkeit |
|
| dc.subject |
Geldpolitisches Ziel |
|
| dc.subject |
Ungleichgewichtstheorie |
|
| dc.subject |
New-Keynesian Phillips Curve |
|
| dc.title |
Real wage rigidities and the cost of disinflations: A comment on Blanchard and Galí |
|
| dc.type |
doc-type:workingPaper |
|