Monetary Policy When Wages are Downwardly Rigid: Friedman Meets Tobin
نویسندگان
چکیده
منابع مشابه
Are nominal wages downwardly rigid? Evidence from Belgian microdata
It is sometimes argued that resistance to nominal wage cuts would justify a moderate amount of inflation in order to “grease the wheels of the labour market”. While empirical studies tend to find that nominal wages are not downwardly rigid in Anglo-Saxon economies, a number of studies suggest that downward nominal wage rigidity is more widespread among continental European countries. This paper...
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We would like to thank Professors Charles Yuji Horioka (Osaka University) and Atsushi Seike (Keio University), Messrs. Takeshi Kimura (Bank of Japan, Policy Planning Office), Tomiyuki Kitamura (Bank of Japan, Financial Markets Department), and Toshitaka Sekine (Bank of Japan, Research and Statistics Department), participants at the seminars of the Kansai Institute for Social Economic Research a...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1548066