Pregled bibliografske jedinice broj: 913696
Impulse response functions of the staggered wage- setting model
Impulse response functions of the staggered wage- setting model // Ekonomska istraživanja, 12 (1999), 1-2; 69-82 (podatak o recenziji nije dostupan, članak, znanstveni)
CROSBI ID: 913696 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Impulse response functions of the staggered wage- setting model
Autori
Belullo, Alen
Izvornik
Ekonomska istraživanja (1331-677X) 12
(1999), 1-2;
69-82
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
staggering structures, New Keynesians, system of differential equations
Sažetak
The aim of this paper is to depict the orthogonal impulse response functions of a staggered wage-setting model under rational expectations with exogenous monetary policy. Analyzing the impulse response functions we concluded that staggering of wages is of basic importance for ensuring rigidities of wages and prices. These rigidities are important for ensuring strong and long-lasting effects of various shocks on the model. Without staggering structures, the effects of stochastic shocks on the equilibrium of the model will be weak and of short duration, i.e. the situation will considerably different from the reality depicted by empirical studies.
Izvorni jezik
Engleski
POVEZANOST RADA
Ustanove:
Fakultet ekonomije i turizma "Dr. Mijo Mirković", Pula
Profili:
Alen Belullo
(autor)
