That is the very reason why we are interested in measuring these rigidities, in understanding their nature and in assessing their welfare implications. This knowledge may eventually result in formulating deliberate policy recommendations for structural reforms in view of reducing rigidities in price and wage setting, to the extent that this is desirable from a welfare perspective.
However, as far as these rigidities are deeply rooted, monetary policymakers are faced with them as part of the environment in which they operate. Price and wage rigidities have indeed a strong impact on the monetary transmission mechanism.