The Inflation-Output Trade-Off with Downward Wage Rigidities

184 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Economic Policy Uncertainty Spillovers in Booms and Busts (2019, unknown): “Our analysis focuses mainly on the possibly asymmetric response of unemployment, which can be due to downward wage rigidity (Benigno and Ricci, 2011), possibly in presence of deviations from an efficient wage-setting due to matching frictions in the labour market (Cacciatore and Ravenna, 2018).”
Rethinking Macroeconomic Policy (2010, unknown): “Another benefit of slightly higher inflation rates would be greater ease in absorbing relative wage and price misalignments in the presence of nominal rigidities (Krugman 1998, Benigno and Ricci 2010). than at 2%, the current target range?”
Downward wage rigidity and business cycle asymmetries (2013, background): “Benigno and Ricci (2011) model the greasing effects of positive inflation in an extreme manner whereby wages can never be cut and they highlight the implications for the slope of the long-run Phillips curve.”