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Output persistence from monetary shocks with staggered prices or wages under a Taylor Rule

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Daros, Sebastiano and Rankin, Neil (2009) Output persistence from monetary shocks with staggered prices or wages under a Taylor Rule. Economics Letters, Vol.105 (No.2). pp. 148-151. doi:10.1016/j.econlet.2009.07.001

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Official URL: http://dx.doi.org/10.1016/j.econlet.2009.07.001

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Abstract

We analytically examine output persistence from monetary shocks in a DSGE model with staggered prices or wages under a Taylor Rule. Surprisingly, while Taylor-style staggering never yields persistence, Calvo-style staggering of wages does generate persistence under decreasing returns to labour. (C) 2009 Elsevier B.V. All rights reserved.

Item Type: Journal Article
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Social Sciences > Economics
Journal or Publication Title: Economics Letters
Publisher: Elsevier
ISSN: 0165-1765
Official Date: November 2009
Dates:
DateEvent
November 2009Published
Volume: Vol.105
Number: No.2
Number of Pages: 4
Page Range: pp. 148-151
DOI: 10.1016/j.econlet.2009.07.001
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access

Data sourced from Thomson Reuters' Web of Knowledge

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