That’s what we’ve done up til now but thank you! Is there no “standard” way of fixing this? For example, if we want to use nominal wage contracts. Presumably this problem must happen often as its a feature of NK models.
That’s what we’ve done up til now but thank you! Is there no “standard” way of fixing this? For example, if we want to use nominal wage contracts. Presumably this problem must happen often as its a feature of NK models.