| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5526 |
| DP5526 Does Central Bank Transparency Reduce Interest Rates? | |
| Sylvester Eijffinger; Petra Geraats; Carin van der Cruijsen | |
| 发表日期 | 2006-03-22 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We characterize the equilibrium of a search model with a continuum of job and worker types, wage bargaining, free entry of vacancies and on-the-job search. The decentralized economy with monopsonistic wage setting yields too many vacancies and hence too low unemployment compared to first best. This is due to a business- stealing externality. Raising workers? bargaining power resolves this inefficiency. Unemployment benefits are a second best alternative to this policy. We establish simple relations between the losses in production due to search frictions and wage differentials on the one hand and unemployment on the other hand. Both can be used for empirical testing. |
| 主题 | Labour Economics |
| 关键词 | On-the-job search Sorting |
| URL | https://cepr.org/publications/dp5526 |
| 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/534416 |
| 推荐引用方式 GB/T 7714 | Sylvester Eijffinger,Petra Geraats,Carin van der Cruijsen. DP5526 Does Central Bank Transparency Reduce Interest Rates?. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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