Ditapis dengan
Equilibrium unemployment, job flows, and inflation dynamics
In order to explain the joint fluctuations of output, inflation and the labor market, this paper develops and estimates a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. The estimated model accounts for the responses of employment, hours per worker, job creation, and job destruction to a monetary policy shock. M…
- Edisi
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- ISBN/ISSN
- 222879
- Deskripsi Fisik
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- Judul Seri
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- No. Panggil
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An Estimated monetary DSGE model with unemployment and staggered nominal wage…
We develop and estimate a medium scale macroeconomic model that allows for unemployment and staggered nominal wage contracting. In contrast to most existing quantitative models, employment adjustment is on the extensive margin and the employment of existing workers is efficient. Wage rigidity, however, affects the hiring of new workers. The former is introduced via the staggered Nash bargaining…
- Edisi
- -
- ISBN/ISSN
- 222879
- Deskripsi Fisik
- -
- Judul Seri
- -
- No. Panggil
- -
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