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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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