A Keynesian Model of Nominal Wage Rigidity

Authors

  • Sérgio Ribeiro da Costa Werlang From EPGE/FGV.

DOI:

https://doi.org/10.12660/bre.v10n11990.3022

Abstract

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.

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Published

1990-04-01

Issue

Vol. 10 No. 1 (1990)

Section

Articles