Real wage rigidities and disinflation dynamics: Calvo vs. Rotemberg pricing

DOI10.1016/J.ECONLET.2010.11.011zbMATH Open1207.91041OpenAlexW2085283571MaRDI QIDQ631272FDOQ631272

Authors: Guido Ascari, Lorenza Rossi 

Publication date: 22 March 2011

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: http://dem-web.unipv.it/web/docs/dipeco/quad/ps/RePEc/pav/wpaper/q116.pdf

Recommendations

• Staggered wages and output dynamics under disinflation
• The inflation bias under Calvo and Rotemberg pricing
• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
• Efficiency wages, disinflation and labor mobility
• Inflation persistence and the real costs of disinflation in staggered prices and partial adjustment models

zbMATH Keywords

sticky pricesdisinflationnon-linear simulationsreal wage rigidity

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Welfare economics (91B15)

Cites Work

• Monopolistic Price Adjustment and Aggregate Output
• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
• The welfare loss from unstable inflation

Cited In (6)

• Entry of firms and cost of disinflation in New Keynesian models
• Estimation uncertainty in structural inflation models with real wage rigidities
• Staggered wages and output dynamics under disinflation
• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
• Second-order approximation to the Rotemberg model around a distorted steady state
• Nominal and real wage rigidity in a friction model

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