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.

引用

页码：279 / 298

页数：20

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