Microeconomic Foundation of the Phillips Curve
References
- Calvo, G. A. (1983) Staggered prices in a utility-maximizing framework. Journal of Monetary Economics, 12, 383-398.10.1016/0304-3932(83)90060-0
- Erceg, C., Henderson D. and A. Levin (1998) Trade-offs between inflation and output-gap variances in an optimizing-agent model, International Finance Discussion Papers, Board of Governors of the Federal Reserve System, No.627.
- Erceg, C., Henderson D. and A. Levin (2000), Optimal monetary policy with staggered wage and price contracts, Journal of Monetary Economics, 46, 281-313.10.1016/S0304-3932(00)00028-3
- Lucas, R.E. Jr. (1972). Expectations and the neutrality of money. Journal of Economic Theory, 4, 103-124.10.1016/0022-0531(72)90142-1
- Mankiw, N. G. and Reis, R. (2002). Sticky information versus sticky prices: a proposal to replace the new Keynesian Phillips curve, Quarterly Journal of Economics, 117, 1295-1328.10.1162/003355302320935034
- Otaki, M. (2007) The Dynamically Extended Keynesian Cross and the Welfare-Improving Fiscal Policy. Economics Letters, 96, 23–29.10.1016/j.econlet.2006.12.005
- Otaki, M. (2009) A Welfare Economics Foundation for the Full-Employment Policy. Economics Letters, 102, 1–3.10.1016/j.econlet.2008.08.003
- Otaki, M. (2011) Fundamentals of the Theory of Money and Employment (Kahei-Koyo Riron no Kiso (in Japanese). Keiso Shobo.
- Otaki, M. (2015) Keynesian Economics and Price Theory: Re-orientation of a Theory of Monetary Economy, Springer.10.1007/978-4-431-55345-8
- Otaki, M. (2016) Keynes’s General Theory Reconsidered in the Context of the Japanese Economy. Springer.10.1007/978-4-431-55915-3
- Otaki, M and M. Tamai (2012) A Microeconomic Foundation for the Phillips Curve under Complete Markets without any Exogenous Price Stickiness: A Keynesian View, Theoretical Economics Letters, 2, 482-486.10.4236/tel.2012.25090
- Taylor, J. (1979) Staggered wage setting in a macro model. American Economic Review, 69, 108-113.
- Taylor, J. (1980) Aggregate dynamics and staggered contracts. Journal of Political Economy, 88, 1-23.10.1086/260845
- Woodford, M. (2003) Interest and Prices, Princeton University Press.
DOI: https://doi.org/10.2478/subboec-2020-0012 | Journal eISSN: 2065-9644
Language: English
Page range: 14 - 26
Published on: Dec 31, 2020
Published by: Babeș-Bolyai University
In partnership with: Paradigm Publishing Services
Publication frequency: 3 times per year
Keywords:
Related subjects:
© 2020 Yasuhito Tanaka, published by Babeș-Bolyai University
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.