Sticky-Wage Models and Knowledge Capital

Huang, Kevin X. D.; Katayama, Munechika; Shintani, Mototsugu et al.

Institute of Social and Economic Research Discussion Papers, 2019, 1046, 1-22

アクセス数:506件（2025-07-05 04:50 集計）

固定URL: https://hdl.handle.net/11094/72990

論文情報

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タイトル
Sticky-Wage Models and Knowledge Capital
著者
著者名
Huang, Kevin X. D.
NRID
1000020718134 1000020718134
著者名
Katayama, Munechika
NRID
1000000252718 1000000252718
著者名
Shintani, Mototsugu
NRID
1000040511720 1000040511720
ORCID
0000-0002-8177-2330 0000-0002-8177-2330
researchmap permalink
7000008934 7000008934
Scopus Author ID
16424964300 16424964300
著者名
Tsuruga, Takayuki
キーワード等
Intangible capital
wage rigidity
monetary policy
抄録
We present a sticky-wage model with two types of labors: while worker's labor contributes to current production, researcher's work helps develop new ideas to add to firm's knowledge capital that enhances its productivity for many periods. The long-lived effect of knowledge capital on productivity is analogous to the long-lasting effect of consumer durables on utility in the sticky-price model of Barsky, House and Kimball (2007). Our sticky-wage model generates the near monetary neutrality result similar to the result in their sticky-price model, if returns to researchers' labor are low in developing knowledge capital. We show, however, that the relative role of the pricing of the two production inputs analogous to consumption durables and nondurables in their sticky-price model is completely reversed in our sticky-wage model.
出版者
The Institute of Social and Economic Research, Osaka University
収録物名
Institute of Social and Economic Research Discussion Papers
巻(号)
1046
ページ
1-22
刊行年月
2019-01
言語
英語
ハンドルURL
https://hdl.handle.net/11094/72990
関連情報 (references)
URI
https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2019/DP1046.pdf
アクセス権
metadata only access
カテゴリ
ディスカッション／ワーキング・ペーパー DP/WP
Institute of Social and Economic Research Discussion Papers