Is there a Trade-Off between Inflation and Output Stabilization?

被引：86

作者：

Justiniano, Alejandro ^{[1
]}

Primiceri, Giorgio E. ^{[2
,3
]}

Tambalotti, Andrea ^{[4
]}

机构：

[1] Fed Reserve Bank Chicago, Chicago, IL 60604 USA

[2] Northwestern Univ, Dept Econ, Evanston, IL 60208 USA

[3] Natl Bur Econ Res, Cambridge, MA 02138 USA

[4] Fed Reserve Bank New York, Res & Stat Grp, New York, NY 10012 USA

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2013年 / 5卷 / 02期

关键词：

MONETARY-POLICY; WAGE; MODEL; RIGIDITIES;

D O I：

10.1257/mac.5.2.1

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We find that the answer is no in an estimated DSGE model of the US economy in which exogenous movements in workers' market power are not a major driver of observed economic fluctuations. If they are, the tension between the conflicting stabilization objectives of monetary policy increases, but with negligible effects on the equilibrium behavior of the economy under optimal policy. (JEL E12, E23, E24, E31, E32, E52)

引用

页码：1 / 31

页数：31

共 49 条

[1] Why do different wage series tell different stories? [J].