Nominal wage rigidities in a new Keynesian model with frictional unemployment

Vincent Bodart, Grégory de Walque, Olivier Pierrard, Henri Sneessens and Raf Wouters

No 97, Working Paper Research from National Bank of Belgium

Abstract: In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple shocks. The model generates realistic statistics for the important labor market variables

Keywords: DSGE; Search and Matching; Nominal Wage Rigidity; Monetary Policy (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 J64 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2006-10
New Economics Papers: this item is included in nep-cba, nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

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Related works:
Working Paper: Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:nbb:reswpp:200610-9

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