Monetary policy when wages are downwardly rigid: Friedman meets Tobin

DOI10.1016/j.jedc.2011.08.002zbMath1241.91084OpenAlexW2007826575MaRDI QIDQ427989

Jinill Kim, Francisco J. Ruge-Murcia

Publication date: 18 June 2012

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2011.08.002

zbMATH Keywords

nonlinear dynamicsdownward nominal wage rigidityasymmetric effects of monetary policyoptimal inflation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (2)

Optimal inflation rates with the trending relative price of investment ⋮ Leaning against boom-bust cycles in credit and housing prices

Cites Work

• Estimating nonlinear DSGE models by the simulated method of moments: with an application to business cycles
• Solving dynamic general equilibrium models using a second-order approximation to the policy function
• Simulation methodology - an introduction for queueing theorists
• Impulse response analysis in nonlinear multivariate models
• Optimal fiscal and monetary policy under sticky prices.
• Calculating and using second-order accurate solutions of discrete time dynamic equilibrium models
• Nonlinear Dynamic Structures
• A Theory of Wage Dynamics
• Optimal Monetary Policy
• Testing When a Parameter is on the Boundary of the Maintained Hypothesis

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