Sectoral Labor Mobility and Optimal Monetary Policy /
In an estimated two-sector New-Keynesian model with durable and nondurable goods, an inverse relationship between sectoral labor mobility and the optimal weight the central bank should attach to durables inflation arises. The combination of nominal wage stickiness and limited labor mobility leads to...
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| 格式: | 雜誌 |
| 語言: | English |
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Washington, D.C. :
International Monetary Fund,
2017.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2017/040 |
| 在線閱讀: | Full text available on IMF |