文章基本信息

标题：Inflation dynamics with labour market matching: assessing alternative specifications
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作者：Kai Christoffel ; James Costain ; Gregory de Walque 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2009
卷号：1
出版社：European Central Bank
摘要：This paper reviews recent approaches to modeling the labour market and assesses their implications for ination dynamics through both their e¤ect on marginal cost and on price-setting behaviour. In a search and matching environment, we consider the following modeling setups: right-to-manage bargaining vs. e¢ cient bargaining, wage stickiness in new and existing matches, interactions at the rm level between price and wage-setting, alternative forms of hiring frictions, search on-the-job and endogenous job separation. We nd that most specications imply too little real rigidity and, so, too volatile ination. Models with wage stickiness and right-to-manage bargaining or with rm-specic labour emerge as the most promising candidates.
关键词：Ination Dynamics; Labour Market; Business Cycle; Real Rigidities.