宏觀經濟學討論班

總第109期

中國人民大學宏觀經濟學討論班（Macroeconomics Seminar）旨在追蹤宏觀經濟學國際最新進展，倡導構建符合國情的動態優化模型（尤其是Bewley模型）并使用計算機模擬研究中國經濟改革與發展的重大問題。

【時間】2012年3月20日（周二）12：15－13：45

【地點】明主0304教室

【主持】陳彥斌教授

【主講】唐詩磊

【主題】Labor Markets and Monetary Policy: A New Keynesian Model with Unemployment（AEJM，2010）

【摘要】We construct a utility-based model of fluctuations with nominal rigidities and unemployment. We first show that under a standard utility specification, productivity shocks have no effect on unemployment in the constrained efficient allocation. That property is also shown to hold, despite labor market frictions, in the decentralized equilibrium under flexible prices and wages. Inefficient unemployment fluctuations arise when we introduce real-wage rigidities. As a result, in the presence of staggered price setting by firms, the central bank faces a trade-off between inflation and unemployment stabilization, which depends on labor market characteristics. We draw the implications for optimal monetary policy.

　　

聯系人：姚一旻

Yaoyimin123@sina.com

經濟學院

中國經濟改革與發展研究院