| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3829 |
| DP3829 Investments and Network Competition | |
| Tommaso Valletti; Carlo Cambini | |
| 发表日期 | 2003-03-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | The Paper examines how the long-run inflation-unemployment trade-off depends on the degree to which wage-price decisions are backward- versus forward-looking. When economic agents, facing time-contingent, staggered nominal contracts, have a positive rate of time preference, the current wage and price levels depend more heavily on past variables (e.g. past wages and prices) than on future variables. Consequently, the long-run Phillips curve becomes downward sloping and, indeed, quite flat for plausible parameter values. This Paper provides an intuitive account of how this long-run Phillips curve arises. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Inflation-unemployment trade-off Wage-price staggering monetary policy Forward- and backward-looking wage-price behaviour Traditional and new phillips curve |
| URL | https://cepr.org/publications/dp3829 |
| 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/532818 |
| 推荐引用方式 GB/T 7714 | Tommaso Valletti,Carlo Cambini. DP3829 Investments and Network Competition. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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