Abstract

GOMEZ OSPINA, Mónica. Economic cycle analysis in an economy with nominal rigidities and a large casual sector. Ens. polit. econ. [online]. 2013, vol.31, n.72, pp.51-66. ISSN 0120-4483.

In this article, a dynamic stochastic general equilibrium model is constructed (with an informal sector and price rigidities, using the using the search and matching. The main aim is to analyze the effect of different types of financial shocks on the main variables of the job market, in an economy with a significant informal sector. The effect of monetary policy is also studied, since the presence of this sector affects the dynamics of the economic cycle, and thus, the transmission mechanisms of the monetary policy.

Keywords : Monetary Policy; Informal work; Nominal rigidities; Search and matching.

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