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Proprietes dynamiques des modeles du cycle a contrats echelonnes. (The Dynamic Properties of Staggered Contracts Models. With English summary.)

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  • Louis Phaneuf

Abstract

This paper investigates the robustness of the dynamic properties of staggered-contracts models. The author first analyzes the persistence of several different types of shocks in a model with constant nominal wages over the life of the contracts. The dynamic pattern of the effects of some types of shocks suggests problems with the staggered-contracts formulation. Second, it is shown that under the assumption of variable nominal wages during contracts, the effects of all shocks last only one period despite the existence of two-period nominal rigidities.

Suggested Citation

  • Louis Phaneuf, 1987. "Proprietes dynamiques des modeles du cycle a contrats echelonnes. (The Dynamic Properties of Staggered Contracts Models. With English summary.)," Canadian Journal of Economics, Canadian Economics Association, vol. 20(1), pages 123-139, February.
    • Handle: RePEc:cje:issued:v:20:y:1987:i:1:p:123-39
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