In a TANK model with type-specific sticky wages, the cross-type wage gap emerges as a second-order state variable requiring history-dependent transfers for RANK-equivalent stabilization.
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2 Pith papers cite this work. Polarity classification is still indexing.
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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.
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When Redistribution Becomes a State Variable: Monetary-Fiscal Stabilization with Type-Specific Sticky Wages
In a TANK model with type-specific sticky wages, the cross-type wage gap emerges as a second-order state variable requiring history-dependent transfers for RANK-equivalent stabilization.
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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.