Sticky Wages in a Full Employment Monetary Economy with Efficient Risk Sharing
AbstractWe study a full employment monetary economy, where labor is allocated through contracts. We generalize and extend the sticky wage result of Rogerson an Wright. Our model is different from theirs in two respects. Labor is devisible, and hence unemployment is not possible in our model. And in addition to nominal uncertainty we allow real uncertainty.
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Bibliographic InfoPaper provided by Department of Economics in its series University of Helsinki, Department of Economics with number 496.
Length: 9 pages
Date of creation: 2000
Date of revision:
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Postal: University of Helsinki; Department of Economics, P.O.Box 54 (Unioninkatu 37) FIN-00014 Helsingin Yliopisto
Phone: +358 9 191 8897
Fax: +358 9 191 8877
Web page: http://www.helsinki.fi/politiikkajatalous/
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WAGES ; RISK ; CONTRACTS;
Find related papers by JEL classification:
- J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
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