Unemployment and Business Cycles
Unemployment and Business Cycles
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失业和商业周期
DOI：
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发表时间：
2013
期刊：
影响因子：
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通讯作者：
M. Trabandt
中科院分区：
文献类型：
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作者：
Lawrence J. Christiano;M. Eichenbaum;M. Trabandt
我们开发并估计了一个一般均衡模型，该模型考虑了宏观经济总量的关键商业周期属性，包括劳动力市场变量。与主流的新凯恩斯主义模型形成鲜明对比的是，工资不受外生名义刚性的影响。相反，我们从我们对公司和工人在谈判工资时如何互动的规范中得出工资惯性。我们的模型优于标准的Diamond-Mortensen-Pissarides模型，无论是在统计学上还是在估计的结构参数值的可扩展性方面。我们的模型也优于估计的粘性工资模型。
We develop and estimate a general equilibrium model that accounts for key business cycle properties of macroeconomic aggregates, including labor market variables. In sharp contrast to leading New Keynesian models, wages are not subject to exogenous nominal rigidities. Instead we derive wage inertia from our specification of how firms and workers interact when negotiating wages. Our model outperforms the standard Diamond-Mortensen-Pissarides model both statistically and in terms of the plausibility of the estimated structural parameter values. Our model also outperforms an estimated sticky wage model.