Derives closed-form expressions showing that monetary transmission in a TANK model with price and wage stickiness is amplified by heterogeneity-induced IS-slope effects and price-stickiness channels, while deriving a modified welfare loss function.
Notice that γ γκ1 + (1−γδp)κ2 is increasing inδp and decreasing inκ1 andκ2
1 Pith paper cite this work. Polarity classification is still indexing.
1
Pith paper citing it
fields
econ.TH 1years
2025 1verdicts
UNVERDICTED 1representative citing papers
citing papers explorer
-
Closed-Form of Two-Agent New Keynesian Model with Price and Wage Rigidities
Derives closed-form expressions showing that monetary transmission in a TANK model with price and wage stickiness is amplified by heterogeneity-induced IS-slope effects and price-stickiness channels, while deriving a modified welfare loss function.