Edge, Rochelle M.; Laubach, Thomas; Williams, John C. - 2003
estimate a micro-founded dynamic general equilibrium (DGE) model
of the U.S. economy with sticky wages and sticky prices using … dynamics in an optimization-based dynamic general equilibrium
framework in which we explicitly model the joint determination of … empirical
dynamic general equilibrium model, but leave unanswered the question as to why wages
appear to be so sluggish.
The …