The Inflation-Output Trade-off with Downward Wage Rigidities
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下载链接：
https://www.nber.org/papers/w15762
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资源简介：
In the presence of downward nominal wage rigidities, wage setters take into account the future consequences of their current wage choices, when facing both idiosyncratic and aggregate shocks. We derive a closed-form solution for a long-run Phillips curve which relates average output gap to average
提供机构：
美国国家经济研究局
创建时间：
2010-02-01
