Wage-price dynamics and income distribution in a semi-structural Keynes-Goodwin model

Structural Change and Economic Dynamics

Volumn 17, Issue 4, 2006, Pages 452-465

  Franke, Reiner ^a   Flaschel, Peter ^b   Proaño, Christian R ^b  

^a UNIVERSITY OF KIEL   (Germany)

^b BIELEFELD UNIVERSITY   (Germany)

Author keywords

Inflation climate; Wage and price flexibility; Wage led and profit led regime

Indexed keywords

INCOME DISTRIBUTION; INFLATION; MACROECONOMICS; NUMERICAL MODEL; PRICE DYNAMICS; TIME SERIES ANALYSIS; WAGE;

EID: 33750948753     PISSN: 0954349X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.strueco.2006.08.001     Document Type: Article

References (9)

1. Asada T., Chen P., Chiarella C., and Flaschel P. Keynesian dynamics and the wage-price spiral. A baseline disequilibrium model. Journal of Macroeconomics 28 (2006) 90-130
2. Blanchard, O.J., Katz, L., 1999. Wage dynamics: reconciling theory and evidence. Papers and Proceedings of the 111th Annual Meeting of the American Economic Association (May, 1999). The American Economic Review 89, 69-74
3. Brayton F., Roberts J., and Williams J. What's happened to the Phillips curve?. Finance and Economics Discussion Series 1999-49 (1999), Board of Governors of the Federal Reserve Bank System
4. Chiarella C., Flaschel P., and Franke R. Foundations for a disequilibrium theory of the business cycle. Qualitative Analysis and Quantitative Assesment (2005), Cambridge University Press, Cambridge, UK
5. Franke, R., 2006. Technical Report: Themes on Okun's Law and Beyond. SCEPA, New School University, New York.
6. Franke R., Flaschel P., and Proaño C.R. Semi-structural Keynes-Goodwin modeling: elaboration of an econometric baseline model. Working Paper. Center for Empirical Macroeconomics (2006), Bielefeld University, Bielefeld, Germany
7. Proaño, C. R., Flaschel, P., Ernst, E., Semmler, W., 2006. Gradual wage-price adjustments and Keynesian macrodynamics: evidence from the U.S. and the Euro Area. Online available under the title "Disequilibrium Macroeconomic Dynamics, Income Distribution and Wage-Price Phillips Curves. Evidence from the U.S. and the euro area". IMK Working Paper 04/2006. Macroeconomic Policy Institute (IMK). http://www.imk-boeckler.de.
8. Rudebusch G.D. Term structure evidence on interest rate smoothing and monetary policy inertia. Journal of Monetary Economics 49 (2002) 1161-1187
9. Rudebusch, G.D., Wu, T., 2003. A macro-finance model of the term structure, monetary policy, and the economy. Federal Reserve Bank of San Francisco, mimeo.