The Optimality of Nominal Contracts
收藏NBER1991-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/t0110
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资源简介：
Why do we see nominal contracts in the presence of price level risk? To answer this question, this paper studies an overlapping generations model in which the equilibrium contract form is optimal, given the contracts elsewhere in the economy. Nominal contracts turn out to be optimal in the presence
提供机构：
美国国家经济研究局
创建时间：
1991-08-01
