Price/Wage Staggering and Persistence: A Unifying Framework
构建了一个统一框架，分析交错工资/价格模型中货币冲击实际效应的持续性，揭示劳动市场特征对产出持续性的关键作用，并比较价格与工资交错设定的差异。
Abstract. In this paper, we provide a general unified framework to clarify the issue of persistence of real effects of money shocks in staggered wage/price models. We mainly aim to: (i) highlight which features of the underlying economy, and particularly of the labour market, are crucial for generating output persistence; (ii) analyse the differences between price and wage staggering.