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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 ISSN 0165-1765.
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Official URL: http://dx.doi.org/10.1016/j.econlet.2009.07.001
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: |
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| 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 |
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