Negative Real Balance Effects in the Presence of Involuntary Unemployment
We examine positive or negative real balance effect (or so-called Pigou effect) by falls in the nominal wage rate and the prices of the goods in situations where there is involuntary unemployment using a three-generations overlapping generations model with childhood period and pay-as-you go pension...
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| Format: | Article |
| Language: | English |
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Vilnius University Press
2021-03-01
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| Series: | Ekonomika |
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| Online Access: | https://www.zurnalai.vu.lt/ekonomika/article/view/21194 |