文章基本信息

标题：Technology Shock and Employment under Catching up with the Joneses
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作者：Patrick Fève
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2004
卷号：5
出版社：Economics Bulletin
摘要：Following a positive technology shock, a flexible price monetary model with catching up with the Joneses utility function can easily generate a negative and persistent decline in employment. When the effect of relative consumption is large, the model also produces a small short run response of output to a technology shock.