| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7700 |
| DP7700 The Return of the Wage Phillips Curve | |
| Jordi Gali | |
| 发表日期 | 2010-02-14 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | The standard New Keynesian model with staggered wage setting is shown to imply a simple dynamic relation between wage inflation and unemployment. Under some assumptions, that relation takes a form similar to that found in empirical applications--starting with the original Phillips (1958) curve--and may thus be viewed as providing some theoretical foundations to the latter. The structural wage equation derived here is shown to account reasonably well for the comovement of wage inflation and the unemployment rate in the U.S. economy, even under the strong assumption of a constant natural rate of unemployment. |
| 主题 | International Macroeconomics |
| 关键词 | New keynesian model Staggered nominal wage setting Unemployment fluctuations |
| URL | https://cepr.org/publications/dp7700 |
| 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/536537 |
| 推荐引用方式 GB/T 7714 | Jordi Gali. DP7700 The Return of the Wage Phillips Curve. 2010. |
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