宏观经济学讨论班

总第109期

中国人民大学宏观经济学讨论班（Macroeconomics Seminar）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型（尤其是Bewley模型）并使用计算机模拟研究中国经济改革与发展的重大问题。

【时间】2012年3月20日（周二）12：15－13：45

【地点】明主0304教室

【主持】陈彦斌教授

【主讲】唐诗磊

【主题】Labor Markets and Monetary Policy: A New Keynesian Model with Unemployment（AEJM，2010）

【摘要】We construct a utility-based model of fluctuations with nominal rigidities and unemployment. We first show that under a standard utility specification, productivity shocks have no effect on unemployment in the constrained efficient allocation. That property is also shown to hold, despite labor market frictions, in the decentralized equilibrium under flexible prices and wages. Inefficient unemployment fluctuations arise when we introduce real-wage rigidities. As a result, in the presence of staggered price setting by firms, the central bank faces a trade-off between inflation and unemployment stabilization, which depends on labor market characteristics. We draw the implications for optimal monetary policy.

　　

联系人：姚一旻

Yaoyimin123@sina.com

经济学院

中国经济改革与发展研究院