The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English German |
| Veröffentlicht: |
Frankfurt am Main
Dt. Bundesbank
2005
|
| Schriftenreihe: | Discussion paper / Deutsche Bundesbank : Series 1, Economic studies
2005,22 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Zsfassung in dt. und engl. Sprache |
| Beschreibung: | 39 S. graph. Darst. |
| ISBN: | 3865580645 |
Internformat
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| 245 | 1 | 0 | |a The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |c Matthias Paustian |
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
1 Introduction 1
2 Model 3
2.1 Households 4
2.2 Production 5
2.3 The efficiency gap and monetary policy 6
3 Alternative wage and price setting schemes 6
3.1 The general Wolman (1999) framework 7
3.2 The log linearized price and wage setting conditions 10
3.3 A variant of Mankiw and Reiss (2002): Sticky information 11
4 The key equations and model calibration 12
5 Welfare costs of nominal rigidities 15
5.1 Average duration or average age . 16
5.2 Welfare costs of sticky contracting schemes 17
5.3 Welfare costs of sticky information schemes 19
6 Robustness 20
7 Summary and conclusion 22
Appendix 23
References 27
List of Tables
1 Conditional adjustment probabilities 8
2 The considered interest rate rules 14
3 Welfare costs of nominal rigidities mobile capital 18
4 Welfare costs of nominal rigidities sticky information 19
5 Welfare costs of nominal rigidities immobile capital 21
List of Figures
1 Age distribution of wage contracts 9
2 Age distribution of price contracts 9
3 Welfare costs with sticky wages and flexible prices 17
4 Welfare costs with sticky prices and flexible wages 18
5 Sensitivity 1: Inverse of Frish elasticity and relative risk aversion 23
6 Sensitivity 1: Welfare costs of Calvo relative to Taylor 24
7 Sensitivity 2: Substitutability of differentiated labour and goods 24
8 Sensitivity 2: Welfare costs of Calvo relative to Taylor 25
9 Sensitivity 3: Inflation response and Output gap response 25
10 Sensitivity 3: Welfare costs of Calvo relative to Taylor 26
|
| adam_txt |
Contents
1 Introduction 1
2 Model 3
2.1 Households 4
2.2 Production 5
2.3 The efficiency gap and monetary policy 6
3 Alternative wage and price setting schemes 6
3.1 The general Wolman (1999) framework 7
3.2 The log linearized price and wage setting conditions 10
3.3 A variant of Mankiw and Reiss (2002): Sticky information 11
4 The key equations and model calibration 12
5 Welfare costs of nominal rigidities 15
5.1 Average duration or average age'.' 16
5.2 Welfare costs of sticky contracting schemes 17
5.3 Welfare costs of sticky information schemes 19
6 Robustness 20
7 Summary and conclusion 22
Appendix 23
References 27
List of Tables
1 Conditional adjustment probabilities 8
2 The considered interest rate rules 14
3 Welfare costs of nominal rigidities mobile capital 18
4 Welfare costs of nominal rigidities sticky information 19
5 Welfare costs of nominal rigidities immobile capital 21
List of Figures
1 Age distribution of wage contracts 9
2 Age distribution of price contracts 9
3 Welfare costs with sticky wages and flexible prices 17
4 Welfare costs with sticky prices and flexible wages 18
5 Sensitivity 1: Inverse of Frish elasticity and relative risk aversion 23
6 Sensitivity 1: Welfare costs of Calvo relative to Taylor 24
7 Sensitivity 2: Substitutability of differentiated labour and goods 24
8 Sensitivity 2: Welfare costs of Calvo relative to Taylor 25
9 Sensitivity 3: Inflation response and Output gap response 25
10 Sensitivity 3: Welfare costs of Calvo relative to Taylor 26 |
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| illustrated | Illustrated |
| index_date | 2024-07-02T14:19:19Z |
| indexdate | 2024-07-09T20:37:30Z |
| institution | BVB |
| isbn | 3865580645 |
| language | English German |
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| series2 | Discussion paper / Deutsche Bundesbank : Series 1, Economic studies |
| spelling | Paustian, Matthias 1972- Verfasser (DE-588)13046435X aut The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle Matthias Paustian Frankfurt am Main Dt. Bundesbank 2005 39 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Discussion paper / Deutsche Bundesbank : Series 1, Economic studies 2005,22 Zsfassung in dt. und engl. Sprache Normalverteilung (DE-588)4075494-7 gnd rswk-swf Regressionsanalyse (DE-588)4129903-6 gnd rswk-swf Regressionsanalyse (DE-588)4129903-6 s Normalverteilung (DE-588)4075494-7 s DE-604 Deutsche Bundesbank Discussion paper Series 1, Economic studies ; 2005,22 (DE-604)BV017594637 2005,22 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014729117&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Paustian, Matthias 1972- The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle Normalverteilung (DE-588)4075494-7 gnd Regressionsanalyse (DE-588)4129903-6 gnd |
| subject_GND | (DE-588)4075494-7 (DE-588)4129903-6 |
| title | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |
| title_auth | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |
| title_exact_search | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |
| title_exact_search_txtP | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |
| title_full | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle Matthias Paustian |
| title_fullStr | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle Matthias Paustian |
| title_full_unstemmed | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle Matthias Paustian |
| title_short | The role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |
| title_sort | the role of contracting schemes for the welfare costs of nominal rigidities over the business cycle |
| topic | Normalverteilung (DE-588)4075494-7 gnd Regressionsanalyse (DE-588)4129903-6 gnd |
| topic_facet | Normalverteilung Regressionsanalyse |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014729117&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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