A neoclassical model of the Phillips curve relation

被引：62

作者：

Cooley, TF

Quadrini, V

机构：

[1] Univ Rochester, Simon Sch Business, Rochester, NY 14627 USA

[2] Univ Rochester, Dept Econ, Rochester, NY 14627 USA

[3] Duke Univ, Dept Econ, Durham, NC 27708 USA

[4] Duke Univ, Fuqua Sch Business, Durham, NC 27708 USA

来源：

JOURNAL OF MONETARY ECONOMICS | 1999年 / 44卷 / 02期

关键词：

monetary policy; liquidity effects; job creation and job destruction;

D O I：

10.1016/S0304-3932(99)00022-7

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper integrates the modern theory of unemployment with a limited participation model of money and asks whether such a framework can produce correlations like those associated with the Phillips curve as well as realistic labor market dynamics. The model incorporates both monetary and real shocks. The response of the economy to monetary policy shocks is consistent with recent evidence about the impact of these shocks on the economy. (C) 1999 Elsevier Science B.V. All rights reserved.

引用

页码：165 / 193

页数：29

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