메뉴 건너뛰기




Volumn 32, Issue 5, 2008, Pages 1600-1621

Optimal monetary policy rules with labor market frictions

Author keywords

Matching frictions; Optimal monetary policy rules; Wage rigidity

Indexed keywords


EID: 41949083925     PISSN: 01651889     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jedc.2007.06.011     Document Type: Article
Times cited : (75)

References (40)
  • 2
    • 0029799225 scopus 로고    scopus 로고
    • Business cycles and labor market search
    • Andolfatto D. Business cycles and labor market search. American Economic Review 86 (1996) 112-132
    • (1996) American Economic Review , vol.86 , pp. 112-132
    • Andolfatto, D.1
  • 3
    • 33645467347 scopus 로고    scopus 로고
    • Money in a estimated business cycle model of the Euro area
    • Andrés J., López-Salido D., and Vallés J. Money in a estimated business cycle model of the Euro area. Economic Journal 116 (2006) 457-477
    • (2006) Economic Journal , vol.116 , pp. 457-477
    • Andrés, J.1    López-Salido, D.2    Vallés, J.3
  • 4
    • 41949129081 scopus 로고    scopus 로고
    • Angeloni, I., Dedola, L., 1998. From the ERM to the EMU: new evidence on convergence in the Euro area. ECB Working Paper, No. 4.
    • Angeloni, I., Dedola, L., 1998. From the ERM to the EMU: new evidence on convergence in the Euro area. ECB Working Paper, No. 4.
  • 5
    • 0030659729 scopus 로고    scopus 로고
    • Returns to scale in U.S. production: estimates and implications
    • Basu S., and Fernald J. Returns to scale in U.S. production: estimates and implications. Journal of Political Economy 105-2 (1997) 249-283
    • (1997) Journal of Political Economy , vol.105-2 , pp. 249-283
    • Basu, S.1    Fernald, J.2
  • 6
    • 0000941381 scopus 로고
    • The aggregate matching function
    • Diamond P. (Ed), MIT Press, Cambridge, MA
    • Blanchard O., and Diamond P. The aggregate matching function. In: Diamond P. (Ed). Productivity, Growth and Unemployment (1991), MIT Press, Cambridge, MA 159-201
    • (1991) Productivity, Growth and Unemployment , pp. 159-201
    • Blanchard, O.1    Diamond, P.2
  • 7
    • 41949133358 scopus 로고    scopus 로고
    • Blanchard, O., Gali', J., 2005. Real wage rigidities and the New Keynesian model. Journal of Money, Credit and Banking, forthcoming.
    • Blanchard, O., Gali', J., 2005. Real wage rigidities and the New Keynesian model. Journal of Money, Credit and Banking, forthcoming.
  • 8
    • 41949094763 scopus 로고    scopus 로고
    • Blanchard, O., Gali', J., 2006. A New Keynesian Model with unemployment. Mimeo.
    • Blanchard, O., Gali', J., 2006. A New Keynesian Model with unemployment. Mimeo.
  • 9
    • 41949115182 scopus 로고    scopus 로고
    • Canzoneri, M., Cumby, R., Diba, B., 2005. Price and wage inflation targeting: variations on a theme. In: Erceg, C., Henderson, D., Levin, A. (Eds.), Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley. Board of Governors of the Federal Reserve System.
    • Canzoneri, M., Cumby, R., Diba, B., 2005. Price and wage inflation targeting: variations on a theme. In: Erceg, C., Henderson, D., Levin, A. (Eds.), Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley. Board of Governors of the Federal Reserve System.
  • 10
    • 0006260747 scopus 로고    scopus 로고
    • Monetary policy rules and macroeconomic stability: evidence and some theory
    • Clarida R., Gali J., and Gertler M. Monetary policy rules and macroeconomic stability: evidence and some theory. Quarterly Journal of Economics 115 1 (2000) 147-180
    • (2000) Quarterly Journal of Economics , vol.115 , Issue.1 , pp. 147-180
    • Clarida, R.1    Gali, J.2    Gertler, M.3
  • 11
    • 0040909354 scopus 로고    scopus 로고
    • Can the Mortensen-Pissarides matching model match the business cycle facts?
    • Cole H.L., and Rogerson R. Can the Mortensen-Pissarides matching model match the business cycle facts?. International Economic Review 40 4 (1999)
    • (1999) International Economic Review , vol.40 , Issue.4
    • Cole, H.L.1    Rogerson, R.2
  • 12
    • 0033211807 scopus 로고    scopus 로고
    • A neoclassical model of the Phillips curve relation
    • Cooley T., and Quadrini V. A neoclassical model of the Phillips curve relation. Journal of Monetary Economics 44 (2000) 165-193
    • (2000) Journal of Monetary Economics , vol.44 , pp. 165-193
    • Cooley, T.1    Quadrini, V.2
  • 14
    • 0001532134 scopus 로고    scopus 로고
    • Optimal monetary policy with staggered wage and price contracts
    • Erceg C.J., Henderson D.W., and Levin A.T. Optimal monetary policy with staggered wage and price contracts. Journal of Monetary Economics 46 2 (2000) 281-313
    • (2000) Journal of Monetary Economics , vol.46 , Issue.2 , pp. 281-313
    • Erceg, C.J.1    Henderson, D.W.2    Levin, A.T.3
  • 15
    • 41949127970 scopus 로고    scopus 로고
    • Faia, E., 2005. Ramsey monetary policy with capital accumulation and nominal rigidities. Macroeconomic Dynamics, forthcoming.
    • Faia, E., 2005. Ramsey monetary policy with capital accumulation and nominal rigidities. Macroeconomic Dynamics, forthcoming.
  • 16
    • 41949094762 scopus 로고    scopus 로고
    • Faia, E., Monacelli, T., 2005. Optimal monetary policy with credit market imperfections. Journal of Economic Dynamics and Control, forthcoming.
    • Faia, E., Monacelli, T., 2005. Optimal monetary policy with credit market imperfections. Journal of Economic Dynamics and Control, forthcoming.
  • 17
    • 41949093241 scopus 로고    scopus 로고
    • Hall, R., 2005. Wage determination and employment fluctuations. NBER Working Paper #9967.
    • Hall, R., 2005. Wage determination and employment fluctuations. NBER Working Paper #9967.
  • 18
    • 15044344963 scopus 로고    scopus 로고
    • Hashimzade, N., Ortigueira, S., 2005. Endogenous business cycles with frictional labour markets. Economic Journal 115.
    • Hashimzade, N., Ortigueira, S., 2005. Endogenous business cycles with frictional labour markets. Economic Journal 115.
  • 19
    • 84960552346 scopus 로고
    • On the efficiency of matching and related models of search and unemployment
    • Hosios A.J. On the efficiency of matching and related models of search and unemployment. Review of Economic Studies 57 2 (1990) 279-298
    • (1990) Review of Economic Studies , vol.57 , Issue.2 , pp. 279-298
    • Hosios, A.J.1
  • 20
    • 0037508495 scopus 로고    scopus 로고
    • Spurious welfare reversals in international business cycle models
    • Kim J., and Kim K.S. Spurious welfare reversals in international business cycle models. Journal of International Economics 60 (2003) 471-500
    • (2003) Journal of International Economics , vol.60 , pp. 471-500
    • Kim, J.1    Kim, K.S.2
  • 21
    • 41949119771 scopus 로고    scopus 로고
    • Kim, J., Levin, A., 2004. Conditional welfare comparisons of monetary policy rules. Mimeo.
    • Kim, J., Levin, A., 2004. Conditional welfare comparisons of monetary policy rules. Mimeo.
  • 22
    • 41949097635 scopus 로고    scopus 로고
    • King, R.G., Wolman, A.L., 1996. Inflation Targeting in a St. Louis Model of the 21st Century. NBER Working Paper 5507.
    • King, R.G., Wolman, A.L., 1996. Inflation Targeting in a St. Louis Model of the 21st Century. NBER Working Paper 5507.
  • 23
    • 41949126168 scopus 로고    scopus 로고
    • Kollmann, R., 2003a. Monetary policy rules in an interdependent world. CEPR Discussion Paper, 4012.
    • Kollmann, R., 2003a. Monetary policy rules in an interdependent world. CEPR Discussion Paper, 4012.
  • 24
    • 41949114880 scopus 로고    scopus 로고
    • Kollmann, R., 2003b. Welfare Maximizing Monetary and Tax Policy Rules. Macroeconomic Dynamics, forthcoming.
    • Kollmann, R., 2003b. Welfare Maximizing Monetary and Tax Policy Rules. Macroeconomic Dynamics, forthcoming.
  • 25
    • 41949136909 scopus 로고    scopus 로고
    • Krause, M., Lubik, T., 2005. A note on instability and indeterminacy in search and matching models. Mimeo.
    • Krause, M., Lubik, T., 2005. A note on instability and indeterminacy in search and matching models. Mimeo.
  • 26
    • 34247325606 scopus 로고    scopus 로고
    • Krause, M., Lubik, T., 2007. The (ir)relevance of real wage rigidity in the New Keynesian model with search frictions. Journal of Monetary Economics 54 (3).
    • Krause, M., Lubik, T., 2007. The (ir)relevance of real wage rigidity in the New Keynesian model with search frictions. Journal of Monetary Economics 54 (3).
  • 27
    • 0000605080 scopus 로고
    • Search in the labor market and the real business cycle
    • Merz M. Search in the labor market and the real business cycle. Journal of Monetary Economics 36 (1995) 269-300
    • (1995) Journal of Monetary Economics , vol.36 , pp. 269-300
    • Merz, M.1
  • 28
    • 77956789017 scopus 로고    scopus 로고
    • Mortensen, D., Pissarides, C., 1999. New developments in models of search in the labor market. In: Ashenfelter, O., Card, D. (Eds.), Handbook of Labor Economics.
    • Mortensen, D., Pissarides, C., 1999. New developments in models of search in the labor market. In: Ashenfelter, O., Card, D. (Eds.), Handbook of Labor Economics.
  • 29
    • 41949088924 scopus 로고    scopus 로고
    • Nickell, S., Nunziata, L., 2001. Labour Market Institutions Database.
    • Nickell, S., Nunziata, L., 2001. Labour Market Institutions Database.
  • 30
    • 41949111006 scopus 로고    scopus 로고
    • Perotti, R., 2004. Estimating the effects of Fiscal policy in OECD countries. Mimeo.
    • Perotti, R., 2004. Estimating the effects of Fiscal policy in OECD countries. Mimeo.
  • 31
    • 84939612838 scopus 로고
    • Monopolistic price adjustment and aggregate output
    • Rotemberg J. Monopolistic price adjustment and aggregate output. Review of Economics Studies 44 (1982) 517-531
    • (1982) Review of Economics Studies , vol.44 , pp. 517-531
    • Rotemberg, J.1
  • 32
    • 0345982186 scopus 로고    scopus 로고
    • An optimization-based econometric model for the evaluation of monetary policy
    • Rotemberg J., and Woodford M. An optimization-based econometric model for the evaluation of monetary policy. NBER Macroeconomics Annual 12 (1997) 297-346
    • (1997) NBER Macroeconomics Annual , vol.12 , pp. 297-346
    • Rotemberg, J.1    Woodford, M.2
  • 33
    • 41949128289 scopus 로고    scopus 로고
    • Schmitt-Grohe, S., Uribe, M., 2003. Optimal, simple, and implementable monetary and Fiscal rules. Journal of Monetary Economics, forthcoming.
    • Schmitt-Grohe, S., Uribe, M., 2003. Optimal, simple, and implementable monetary and Fiscal rules. Journal of Monetary Economics, forthcoming.
  • 34
    • 0141800024 scopus 로고    scopus 로고
    • Solving dynamic general equilibrium models using a second-order approximation to the policy function
    • Schmitt-Grohe S., and Uribe M. Solving dynamic general equilibrium models using a second-order approximation to the policy function. Journal of Economic Dynamics and Control 28 (2004) 645-858
    • (2004) Journal of Economic Dynamics and Control , vol.28 , pp. 645-858
    • Schmitt-Grohe, S.1    Uribe, M.2
  • 35
    • 41949091871 scopus 로고    scopus 로고
    • Schmitt-Grohe, S., Uribe, M., 2004. Optimal operational monetary policy in the Christiano-Eichenbaum-Evans model of the U.S. business cycle. Mimeo
    • Schmitt-Grohe, S., Uribe, M., 2004. Optimal operational monetary policy in the Christiano-Eichenbaum-Evans model of the U.S. business cycle. Mimeo
  • 36
    • 20444394073 scopus 로고    scopus 로고
    • The cyclical behavior of equilibrium unemployment and vacancies
    • Shimer R. The cyclical behavior of equilibrium unemployment and vacancies. American Economic Review 95 1 (2005) 25-49
    • (2005) American Economic Review , vol.95 , Issue.1 , pp. 25-49
    • Shimer, R.1
  • 37
    • 77957241272 scopus 로고    scopus 로고
    • An estimated dynamic stochastic general equilibrium model of the Euro area
    • Smets F., and Wouters R. An estimated dynamic stochastic general equilibrium model of the Euro area. Journal of the European Economic Association 1 5 (2003) 1123-1175
    • (2003) Journal of the European Economic Association , vol.1 , Issue.5 , pp. 1123-1175
    • Smets, F.1    Wouters, R.2
  • 38
    • 41949141464 scopus 로고    scopus 로고
    • Thomas, C., 2006. Search and Matching Frictions and Optimal Monetary Policy, mimeo, LSE.
    • Thomas, C., 2006. Search and Matching Frictions and Optimal Monetary Policy, mimeo, LSE.
  • 39
    • 27644499601 scopus 로고    scopus 로고
    • Labor market search and monetary shocks
    • Altug S., Chadha J., and Nolan C. (Eds), Cambridge University Press, Cambridge
    • Walsh C. Labor market search and monetary shocks. In: Altug S., Chadha J., and Nolan C. (Eds). Elements of Dynamic Macroeconomic Analysis (2003), Cambridge University Press, Cambridge
    • (2003) Elements of Dynamic Macroeconomic Analysis
    • Walsh, C.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.