Logomarca da FGV

Repositório FGV de Periódicos e Revistas

A Keynesian Model of Nominal Wage Rigidity

Sérgio Ribeiro da Costa Werlang


We present a Model that reflects Keynes' intuition concerning nominal wage rigidity: workers like to keep their relative status on society. Several results are presented, including the analysis of the influence of risk aversion. The appendix has two new results on symmetric games.

Full Text:


DOI: http://dx.doi.org/10.12660/bre.v10n11990.3022

Praia de Botafogo 190 - sala 1032 - Rio de Janeiro - RJ 22250-900

tel: (21) 2551 4658 - Fax: (21) 2552-4898


ISSN 1980-2447