TY  - RPRT
        AU  - Bodart, Vincent
AU  - Walque, Gregory De
AU  - Pierrard, Olivier
AU  - Sneessens, Henri R.
AU  - Wouters, Raf
        TI  - Nominal Wage Rigidities in a New Keynesian Model with Frictional Unemployment
        PY  - 2006/Dec/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 2528
        UR  - https://www.iza.org/publications/dp2528
        AB  - 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.
        KW  - DSGE
KW  - search and matching
KW  - nominal wage rigidity
KW  - monetary policy
        ER  -