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Title: Fairness and the Disinflation Puzzle [Dataset]      
dateReleased:
11-04-2014
downloadURL: http://dx.doi.org/10.7910/DVN/26866
ID:
doi:10.7910/DVN/26866
description:
Following Driscoll and Holden (2004), I model forward-looking workers who consider it unfair if a wage adjustment fails to match past inflation. However, the present paper proposes a much larger effect by using the job finding rate as the measure of workers’ opportunities outside the firm rather than the unemployment rate, develops a dynamic model with imperfect monitoring, and simulates a credible gradual disinflation with a large sacrifice ratio. It also uses the model to discuss real adverse shocks, the manner in which indexation is used in New Keynesian models, and the use of sticky information to explain disinflation costs.
description:
Andre Lunardelli, 2014, "Fairness and the Disinflation Puzzle [Dataset]", http://dx.doi.org/10.7910/DVN/26866, Harvard Dataverse, V4
name:
Andre Lunardelli
homePage: http://www.harvard.edu/
name:
Harvard University
ID:
SCR:011273
abbreviation:
DataVerse
homePage: http://thedata.org/
name:
Dataverse Network Project
ID:
SCR:001997