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A Search Model of Unemployment and Inflation

โœ Scribed by Etienne Lehmann


Book ID
111008128
Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
547 KB
Volume
114
Category
Article
ISSN
0347-0520

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We present a monetary general equilibrium model with labor market frictions in the form of search unemployment which is calibrated for the US economy. Interestingly, both employment and output may even increase with the rate of in ation depending on the elasticity of labor supply. Considering the tr