Resource title

Quadratic labor adjustment costs and the New-Keynesian model

Resource image

image for OpenScout resource :: Quadratic labor adjustment costs and the New-Keynesian model

Resource description

We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this is sufficient to increase both, output and inflation persistence.

Resource author

Wolfgang Lechthaler, Dennis J. Snower

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/24847

Resource license

Adapt according to the presented license agreement and reference the original author.