Autori
Ascari, Guido
Garcia, Juan Angel

Titolo
Price/wage staggerring and persistence
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1999 - Fascicolo: 6 - Pagina iniziale: 1 - Pagina finale: 38

Recent literature reaches contrasting conclusions on thè ability of price/wage Staggering model's to generate output persistence. We derive fairly generai results from a stylised log-linear niodel which encorapasses most of thè microfounded model of price/wage Staggering. Our results highlight thè features of thè underlying economy which are cruciai in generating output persistence: sub-stitutability between goods and/or labour types and factor im-mobility. Moreover. we show that persistence do not generally depend on thè particular value assigned to thè intertemporal elas-ticity of labour supply. which has so far been thè focus of this literature.



Testo completo: http://www.iue.it/ECO/WP-Texts/ECO99-6.pdf

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