Existence and multiplicity of temporary equilibria under nominal price rigidities

被引：0
|
作者：
Dreze, Jacques [1 ]
机构：
[1] Catholic Univ Louvain, CORE, B-1348 Louvain, Belgium
来源：
ECONOMIC THEORY | 2016年 / 62卷 / 1-2期
关键词：
Temporary general equilibrium; Incomplete preferences; Firm behaviour; Price rigidities;
D O I：
10.1007/s00199-015-0898-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper proves existence of a multiplicity of equilibria in a two-period TGE model with money and nominal rigidities. Households have incomplete preferences and firms reach decisions through the "control principle". The multiple equilibria belong to an inflation-unemployment locus allowing for a Phillips curve or stagflation.
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页码：279 / 298
页数：20
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