Real Wage Rigidity and the Taylor Principle
AbstractThis paper investigates conditions for equilibrium determinacy in the basic new Keynesian model with real wage rigidity. The determinacy region is increased under forward-looking rules and the Taylor principle continues to ensure equilibrium uniqueness under current-looking rules.
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Bibliographic InfoPaper provided by Insper Working Paper, Insper Instituto de Ensino e Pesquisa in its series Insper Working Papers with number wpe_112.
Date of creation: Oct 2008
Date of revision:
Other versions of this item:
- NEP-ALL-2008-05-17 (All new papers)
- NEP-CBA-2008-05-17 (Central Banking)
- NEP-IFN-2008-05-17 (International Finance)
- NEP-LAM-2008-05-17 (Central & South America)
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