Inflation and labor market dynamics revisited

• 成果类型: Article
• 署名作者: Sveen, Tommy; Weinke, Lutz
• 署名单位: Norges Bank; Humboldt University of Berlin; Duke University
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2009.10.006
• 发表日期: 2009
• 页码: 1096-1100
• 关键词: Labor market; inflation dynamics

摘要

We demonstrate that the presence of an empirically plausible labor adjustment decision at the firm level rationalizes strategic complementarities in price-setting which help explain inflation dynamics. Those strategic complementarities are typically assumed away in the related existing literature. This motivates our revisiting of inflation and labor market dynamics. (C) 2009 Elsevier B.V. All rights reserved.