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Preference Heterogeneity in Monetary Policy Committees
(Université de Montréal. Département de sciences économiques., 2007-05)
How Much Inflation is Necessary to Grease the Wheels?
(Université de Montréal. Département de sciences économiques., 2007)
This paper studies Tobin's proposition that inflation "greases" the wheels of the labor market. The analysis is carried out using a simple dynamic stochastic general equilibrium model with asymmetric wage adjustment costs. ...