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Staggered Wage Setting in Nominal and Real Terms: A Comparative Analysis

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  • Pereau, Jean-Christophe

Abstract

This paper analyses the behaviour of an economy characterized by staggered wage contract rules specified in nominal and in real terms. It is shown that staggered contracts in real terms imply complex eigenvalues which cause oscillatory paths both for output and unemployment and stronger output losses in response to an unexpected and permanent fall in the growth rate of money supply. Copyright 2001 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

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  • Pereau, Jean-Christophe, 2001. "Staggered Wage Setting in Nominal and Real Terms: A Comparative Analysis," Bulletin of Economic Research, Wiley Blackwell, vol. 53(2), pages 143-151, April.
    • Handle: RePEc:bla:buecrs:v:53:y:2001:i:2:p:143-51
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    Cited by:

    1. Ben Aissa, Mohamed Safouane & Musy, Olivier & Pereau, Jean-Christophe, 2007. "Modelling inflation persistence with periodicity changes in fixed and predetermined prices models," Economic Modelling, Elsevier, vol. 24(5), pages 823-838, September.
    2. Mohamed Safouane Ben Aïssa & Olivier Musy, 2011. "The Dynamic Properties Of Alternative Assumptions On Price Adjustment In New Keynesian Models," Bulletin of Economic Research, Wiley Blackwell, vol. 63(4), pages 353-384, October.

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