%0 Report
        %A Bodart, Vincent
%A Walque, Gregory De
%A Pierrard, Olivier
%A Sneessens, Henri R.
%A Wouters, Raf
        %T Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
        %D 2006
        %8 2006 Dec
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 2528
        %U https://www.iza.org/publications/dp2528
        %X In this paper, we propose a search and matching model with nominal stickiness à la Calvo in the wage bargaining. We analyze the properties of the model, first, in the context of a typical real business cycle model driven by stochastic productivity shocks and second, in a fully specified monetary DSGE model with various real and nominal rigidities and multiple shocks. The model generates realistic statistics for the important labor market variables.
        %K DSGE
%K search and matching
%K nominal wage rigidity
%K monetary policy