Title of article
Unemploymentasexcesssupplyoflabor:Implicationsforwageand price inflation
Author/Authors
Miguel Casares، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2010
Pages
11
From page
233
To page
243
Abstract
The introductionofbothmarket-clearingwagesandnominalrigiditiesonwagesetting
can beusedtorationalizeunemploymentasexcesssupplyoflaborintheNew
Keynesianmodel.Asaresult,wageinflationdynamicsareforward-lookinganddepend
negativelyontherateofunemployment.Moreover,bothpriceinflationandwage
inflationevolveasindicatedbyequationsequivalenttothoseobtainedin Erceg etal.
(2000), thoughwithdifferentslopecoefficients.Inanequal-volatilitycomparison,the
modelwithunemploymentconveyslesspricestickinessandmorewagestickiness
Keywords
Market-clearing wagesSticky wagesUnemployment
Journal title
Journal of Monetary Economics
Serial Year
2010
Journal title
Journal of Monetary Economics
Record number
846388
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