Sectoral Labor Mobility and Optimal Monetary Policy

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 a nonzero optimal weight for... READ MORE...

Publication date: March 2017
ISBN 9781475584783
$18.00

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