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Inflation dynamics with search frictions: A structural econometric analysis

✍ Scribed by Michael U. Krause; David Lopez-Salido; Thomas A. Lubik

Book ID
113725916
Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
634 KB
Volume
55
Category
Article
ISSN
0304-3932

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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