Staggered Price and Wage Setting in Macroeconomics
Staggered Price and Wage Setting in Macroeconomics
复制标题
宏观经济学中的交错价格和工资设定
DOI：
10.3386/w6754
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发表时间：
1998
期刊：
影响因子：
--
通讯作者：
John B. Taylor
中科院分区：
文献类型：
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作者：
John B. Taylor
本文回顾了临时价格和工资刚性在解释货币、真实的产出和通货膨胀之间的动态关系中的作用。它总结了价格和工资设定行为的微观经济数据，并认为交错价格和工资设定模型提供了最令人满意的匹配数据。这一领域的研究在20世纪90年代非常活跃，大量研究使用、估计或测试交错价格和工资设定的模型。新一代的计量经济学模型结合了交错价格和工资设置与理性预期已经建成。研究人员已经开始将交错工资和价格设定纳入真实的商业周期模型。人们发现，人们的效用函数的参数与价格和工资设定方程的参数之间存在密切联系。现在有一个关于效用函数的标准校准是否会阻止交错价格模型（至少是那些价格频繁变化的模型）解释真实的产出的长期持续性的争论。从这些辩论和它们所激发的未来研究中，我们可以发现很多东西。
This paper reviews the role of temporary price and wage rigidities in explaining the dynamic relationship between money, real output, and inflation. It summarizes microeconomic data on price and wage setting behavior, and argues that staggered price and wage setting models provide the most satisfactory match with the data. Research in this area has been very active in the 1990's with a remarkable number of studies using, estimating, or testing models of staggered price and wage setting. A new generation of econometric models incorporating staggered price and wage setting with rational expectations has been built. Researchers have begun to incorporate staggered wage and price setting into real business cycle models. Close links have been discovered between the parameters of people's utility functions and the parameters of price and wage setting equations. There is now a debate about whether standard calibrations of utility functions prevent staggered price models, at least those with frequent price changes, from explaining long persistence of real output. There is much to be discovered from these debates and from the future research they stimulate.
DOI：
--
发表时间：
1987
期刊：
The American Economic Review
影响因子：
--
作者：
O. Blanchard;N. Kiyotaki
通讯作者：
O. Blanchard;N. Kiyotaki