| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2941 |
| DP2941 Flexible Inflation Targeting under a Non-Linear Phillipscurve | |
| Sylvester Eijffinger; Willem Verhagen | |
| 发表日期 | 2001-09-09 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | This Paper studies the impact of wage growth on the evolution of employment in an intertemporal general-equilibrium model with endogenous productivity growth. For real wage growth above laissez-faire levels, we obtain steady-state equilibria in which productivity grows at the same rate as wages, the real interest rate is below the laissez-faire level, and so is the common growth rate of consumption, demand, and output. In these steady-state equilibria employment contracts at a constant rate equal to the difference between the growth rates of productivity and output. This contrasts with the view that equality of wage growth and productivity growth is a condition for constant employment. |
| 主题 | International Macroeconomics ; Industrial Organization |
| 关键词 | Endogenous technical change Perfect competition Productivity growth Wages Employment |
| URL | https://cepr.org/publications/dp2941 |
| 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/531983 |
| 推荐引用方式 GB/T 7714 | Sylvester Eijffinger,Willem Verhagen. DP2941 Flexible Inflation Targeting under a Non-Linear Phillipscurve. 2001. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
