Real exchange rate dynamics in sticky wage models

被引：3
|
作者：
Crucini, Mario J. [1 ,2 ]
Shintani, Mototsugu [1 ]
Tsuruga, Takayuki [3 ]
机构：
[1] Vanderbilt Univ, Dept Econ, Nashville, TN 37235 USA
[2] NBER, Cambridge, MA 02138 USA
[3] Kyoto Univ, Grad Sch Econ, Kyoto 6068501, Japan
来源：
ECONOMICS LETTERS | 2014年 / 123卷 / 02期
基金：
美国国家科学基金会;
关键词：
PPP puzzle; Real exchange rate persistence; Sticky prices; RATE PERSISTENCE; MONETARY-POLICY; PRICE MODELS; CONTRACTS;
D O I：
10.1016/j.econlet.2014.02.003
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We investigate the role of sticky wages in accounting for real exchange rate dynamics. Unlike the sticky price economy, government spending shocks play a more important role than technology shocks in explaining the hump-shaped impulse responses of real exchange rates. (C) 2014 Elsevier B.V. All rights reserved.
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页码：160 / 163
页数：4
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