Publication
Jul 2007
This paper explores the influence of wage and price staggering on monetary persistence. The authors argue that the two concepts are complementary in generating monetary persistence and stress the importance of investigating their interactions, as opposed to their effects in isolation. Their analysis indicates that the degree of monetary persistence generated by wage vis-à-vis price staggering depends on the relative competitiveness of the labor and product markets.
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English (PDF, 37 pages, 452 KB) |
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Author | Christian Merkl, Dennis J Snower |
Series | Kiel Institute Working Papers |
Issue | 1257 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2007 Kiel Institute for the World Economy |