| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3118 |
| DP3118 International Protection of Intellectual Property | |
| Gene Grossman; Edwin Lai | |
| 发表日期 | 2002 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The Paper highlights one critical difference between Europe and the US regarding the Phillips curve: the behaviour of prices. While they are quickly restored to an equilibrium level in the US, European prices are driven by highly counter-cyclical mark-ups. In bad times, European firms manage to keep their price high relative to cost, while their US counterparts are pressed into cuts and discounts of various forms. We show that this behaviour is the critical reason why Phillips curve look different across the Atlantic, much more than because of differences arising on the labour markets. |
| 主题 | International Macroeconomics |
| 关键词 | Phillips curve Mark-up Labour market |
| URL | https://cepr.org/publications/dp3118 |
| 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/532143 |
| 推荐引用方式 GB/T 7714 | Gene Grossman,Edwin Lai. DP3118 International Protection of Intellectual Property. 2002. |
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