Optimising Agents, Staggered Wages And Persistence In The Real Effects Of Money Shocks

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Abstract
In this paper we incorporate staggered wage setting a la Taylor (1979) into an optimizing dynamic general equilibrium framework. The aim is to study whether staggered wages could induce a high degree of persistence in the real effects of money shocks, as some recent studies have suggested. (This abstract was borrowed from another version of this item.)
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