Is there a persistence problem? Part 2: Maybe not
AbstractIn Part 1 of this two-part series, Evan Koenig explains why some economists are skeptical that staggered price adjustment can account for monetary policy's sustained effects on aggregate economic activity. In Part 2, Koenig looks at labor-market imperfections as a possible source of persistence. He concludes that persistence is much easier to obtain if either labor cannot move freely from firm to firm or wages are set in overlapping wage contracts.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Dallas in its journal Economic and Financial Policy Review.
Volume (Year): (2000)
Issue (Month): Q IV ()
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- repec:dar:vpaper:37210 is not listed on IDEAS
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