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@inproceedings{556320,
author = {Hloušek, Miroslav},
address = {Brno},
booktitle = {Mathematical Methods in Economics 2004},
keywords = {Phillips curve; nominal rigidities; wage and price stickiness; microfoundations; optimizing-agent model},
language = {eng},
location = {Brno},
isbn = {80-210-3496-3},
pages = {122-127},
publisher = {Masaryk University},
title = {Wage and price Phillips curve},
year = {2004}
}
TY - JOUR
ID - 556320
AU - Hloušek, Miroslav
PY - 2004
TI - Wage and price Phillips curve
PB - Masaryk University
CY - Brno
SN - 8021034963
KW - Phillips curve
KW - nominal rigidities
KW - wage and price stickiness
KW - microfoundations
KW - optimizing-agent model
N2 - This paper presents an optimizing-agent model in which both labor and product markets exhibit monopolistic competition. The wage and price equations are derived from optimizing behavior and thus depend on the underlying structure of preferences and technology. All model equations are log-linearised around steady state. Two types of shocks occur: shock to households preferences and technology shock. The implications of these shocks on adjustment process of main variables are examined.
ER -
HLOUŠEK, Miroslav. Wage and price Phillips curve. In \textit{Mathematical Methods in Economics 2004}. Brno: Masaryk University, 2004, p.~122-127. ISBN~80-210-3496-3.
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