English, Article, Journal or magazine article edition: Search, Nash Bargaining and Rule of Thumb Consumers José Emilio Boscá; Javier Ferri; Rafa Doménech

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Bookmark: http://trove.nla.gov.au/version/121271
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Search, Nash Bargaining and Rule of Thumb Consumers
Author
  • José Emilio Boscá
  • Javier Ferri
  • Rafa Doménech
Physical Description
  • preprint
Notes
  • RePEc:iei:wpaper:0806
  • This paper analyses the effects of introducing typical Keynesian features, namely rule-of-thumb consumers and consumption habits, into a standard labour market search model. It is a well-known fact that labour market matching with Nash-wage bargaining improves the ability of the standard real business cycle model to replicate some of the cyclical properties featuring the labour market. However, when habits and rule-of-thumb consumers are taken into account, the labour market search model gains extra power to reproduce some of the stylised facts characterising the US labour market, as well as other business cycle facts concerning aggregate consumption and investment behaviour.
  • general equilibrium, labour market search, habits, rule-of-tumb consumers
  • RePEc:iei:wpaper:0901
Language
  • English
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