Pegs downward wage rigidity and unemployment: the role of financial structure

A characteristic of the current crisis in Europe is that countries in its periphery have found themselves increasingly cut off from international financial markets. In the present study we ask how such changes in the financial structure influence the welfare consequences of maintaining a fixed excha...

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Autores principales:	Schmitt-Grohé, Stephanie, Uribe, Martín
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	SALARIOS DESEMPLEO CRISIS FINANCIERA MERCADO FINANCIERO TIPO DE CAMBIO
Acceso en línea:	https://hdl.handle.net/20.500.12580/3893
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spelling	oai-20.500.12580-38932021-04-24T11:17:02Z Pegs downward wage rigidity and unemployment: the role of financial structure Schmitt-Grohé, Stephanie Uribe, Martín SALARIOS DESEMPLEO CRISIS FINANCIERA MERCADO FINANCIERO TIPO DE CAMBIO A characteristic of the current crisis in Europe is that countries in its periphery have found themselves increasingly cut off from international financial markets. In the present study we ask how such changes in the financial structure influence the welfare consequences of maintaining a fixed exchange rate regime. We address this issue in the context of a dynamic model of an emerging economy with involuntary unemployment developed in an earlier paper (Schmitt-Grohé and Uribe 2011). 2019-11-01T00:06:29Z 2019-11-01T00:06:29Z 2014 Artículo 978-956-7421-43-5 https://hdl.handle.net/20.500.12580/3893 eng Series on Central Banking Analysis and Economic Policies no. 18 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 69-95 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	SALARIOS DESEMPLEO CRISIS FINANCIERA MERCADO FINANCIERO TIPO DE CAMBIO
spellingShingle	SALARIOS DESEMPLEO CRISIS FINANCIERA MERCADO FINANCIERO TIPO DE CAMBIO Schmitt-Grohé, Stephanie Uribe, Martín Pegs downward wage rigidity and unemployment: the role of financial structure
description	A characteristic of the current crisis in Europe is that countries in its periphery have found themselves increasingly cut off from international financial markets. In the present study we ask how such changes in the financial structure influence the welfare consequences of maintaining a fixed exchange rate regime. We address this issue in the context of a dynamic model of an emerging economy with involuntary unemployment developed in an earlier paper (Schmitt-Grohé and Uribe 2011).
format	Artículo
author	Schmitt-Grohé, Stephanie Uribe, Martín
author_facet	Schmitt-Grohé, Stephanie Uribe, Martín
author_sort	Schmitt-Grohé, Stephanie
title	Pegs downward wage rigidity and unemployment: the role of financial structure
title_short	Pegs downward wage rigidity and unemployment: the role of financial structure
title_full	Pegs downward wage rigidity and unemployment: the role of financial structure
title_fullStr	Pegs downward wage rigidity and unemployment: the role of financial structure
title_full_unstemmed	Pegs downward wage rigidity and unemployment: the role of financial structure
title_sort	pegs downward wage rigidity and unemployment: the role of financial structure
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3893
work_keys_str_mv	AT schmittgrohestephanie pegsdownwardwagerigidityandunemploymenttheroleoffinancialstructure AT uribemartin pegsdownwardwagerigidityandunemploymenttheroleoffinancialstructure
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Pegs downward wage rigidity and unemployment: the role of financial structure

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