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~isPartOf:"Applied economics"
~isPartOf:"NBER working paper series"
~person:"Christiano, Lawrence J."
~subject:"General equilibrium"
~subject:"Theorie der unfreiwilligen Arbeitslosigkeit"
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General equilibrium
Theorie der unfreiwilligen Arbeitslosigkeit
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Christiano, Lawrence J.
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Involuntary Unemployment and the Business Cycle
Christiano, Lawrence J.
-
2010
We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people without jobs who are (i) currently making concrete efforts to find work and (ii) willing and able to work. In addition, our model has the property that people searching for...
Persistent link: https://www.econbiz.de/10012462849
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Expectation Traps and Monetary Policy
Albanesi, Stefania
-
2002
, absence of commitment leads to multiple equilibria, or expectation traps. In these traps,
expectations
of high or low …
expectations
. We find support in cross-country evidence for key implications of the model …
Persistent link: https://www.econbiz.de/10012469802
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