| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7650 |
| DP7650 Monetary Persistence and the Labor Market: A New Perspective | |
| Dennis Snower; Christian Merkl; Wolfgang Lechthaler | |
| 发表日期 | 2010-01-24 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | In this paper we propose a novel way to model the labor market in the context of a New-Keynesian general equilibrium model, incorporating labor market frictions in the form of hiring and firing costs. We show that such a model is able to replicate many important stylized facts of the business cycle. The reactions to monetary and real shocks become much more sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in the standard search and matching model. |
| 主题 | International Macroeconomics ; Labour Economics |
| 关键词 | Business cycle statistics Hiring and firing costs Labor market Monetary persistence |
| URL | https://cepr.org/publications/dp7650 |
| 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/536487 |
| 推荐引用方式 GB/T 7714 | Dennis Snower,Christian Merkl,Wolfgang Lechthaler. DP7650 Monetary Persistence and the Labor Market: A New Perspective. 2010. |
| 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。
