| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1219 |
| DP1219 The Monetary Transmission Mechanism: Evidence from the G-7 Countries | |
| Stefan Gerlach; Frank Smets | |
| 发表日期 | 1995-07-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | We develop and analyse a real business cycle model in which both goods and labour markets are characterized by imperfect competition. In equilibrium, unemployment emerges as the result of the market power exercised by insiders at the firm level. We show that a calibrated version of the model is capable of generating both a procyclical labour supply and a countercyclical unemployment rate, in a way qualitatively consistent with US data. |
| 主题 | International Macroeconomics |
| 关键词 | Endogenous mark-ups Insider-outsider models Real business cycles Unemployment |
| URL | https://cepr.org/publications/dp1219 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530354 |
| 推荐引用方式 GB/T 7714 | Stefan Gerlach,Frank Smets. DP1219 The Monetary Transmission Mechanism: Evidence from the G-7 Countries. 1995. |
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