Macroeconomic equilibrium and nominal price rigidities under imperfect rationality

2019 ◽  
Vol 60 ◽  
pp. 60-78
Author(s):  
Giuseppe Ciccarone ◽  
Francesco Giuli ◽  
Enrico Marchetti
Keyword(s):  
Price Rigidities ◽  
Imperfect Rationality

Price rigidities, inventories, and growth fluctuations

2007 ◽  
Vol 28 (6) ◽  
pp. 619-631
Author(s):  
Chris Tsoukis ◽  
Naveed Naqvi
Keyword(s):  
Price Rigidities

Trend inflation, wage and price rigidities, and productivity growth

2009 ◽  
Vol 56 (3) ◽  
pp. 353-364 ◽  
Author(s):  
Robert Amano ◽  
Kevin Moran ◽  
Stephen Murchison ◽  
Andrew Rennison
Keyword(s):  
Productivity Growth ◽  
Trend Inflation ◽  
Price Rigidities

scholarly journals ON THE EFFECTIVENESS OF FISCAL DEVALUATIONS IN A MONETARY UNION

2018 ◽  
Vol 23 (8) ◽  
pp. 3424-3456 ◽  
Author(s):  
Anna Lipińska ◽  
Leopold von Thadden
Keyword(s):  
Monetary Policy ◽  
Monetary Union ◽  
Financial Integration ◽  
Fiscal Policies ◽  
Consumption Tax ◽  
Welfare Costs ◽  
Long Run ◽  
Price Rigidities ◽  
Short Run ◽  
Labor Taxes

This paper examines the effects of fiscal devaluations in a model of a monetary union characterized by national fiscal policies and supranational monetary policy. We show that a revenue-neutral permanent tax shift in one country, which raises its consumption tax to finance a cut to labor taxes, increases welfare of the monetary union in the long run. The distribution of gains among countries depends on their degree of financial integration. We also document that price rigidities result in short-run welfare costs.

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