Document Type

Article

Media Type

Text

Abstract

This study derives reduced-form equations for the wage–wage Phillips curve and the price–price Phillips curve from firms' optimizing behavior, under the assumptions that firms pay efficiency wages and that workers' expectations of average wages or prices are partly adaptive.

DOI

10.1016/j.econlet.2010.01.036

Publication Date

5-1-2010

Department

Department of Economics

Department

Department of Economics

Language

eng

Publisher

Elsevier

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