Searched for: "phillips curve and the equilibrium rate of unemployment"
About 2 results for "phillips curve and the equilibrium rate of unemployment"
This paper presents a theory of the monetary transmission mechanism in an old-Keynesian model with multiple equilibrium unemployment rates. The model has two equations in common wi...
Employment, Inflation And Income Distribution In An Open Economy Pricing-To-Market In A Modified NAIRU Model
The paper modifies a standard NAIRU model by implementing 'Pricing-to-market' as the basic assumption for the price setting behaviour of firms in an open economy. This entirely cha...