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
✦ LIBER ✦
The welfare cost of inflation under imperfect insurance
✍ Scribed by Ayşe İmrohoroğlu
- Publisher
- Elsevier Science
- Year
- 1992
- Tongue
- English
- Weight
- 812 KB
- Volume
- 16
- Category
- Article
- ISSN
- 0165-1889
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