Publication
Mar 2009
This paper enhances the standard New Keynesian sticky price model by real wage rigidities and labor turnover costs. The author examines the impact of the two rigidities and argues that economists and policymakers alike should pay more attention to labor turnover costs.
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English (PDF, 18 pages, 375 KB) |
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Author | Christian Merkl |
Series | Kiel Institute Working Papers |
Issue | 1495 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2009 Kiel Institute for the World Economy |