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The Phillips and Beveridge curves revisited

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  • Chéron, A.
  • Langot, François

Abstract

This paper studies the cyclical labor market properties of a model wich aims to account for the Phillips and Beveridge curves. Monopolistic competition and sticky prices on the goods market are introduced in a labor market search model disturbed by both technological and money supply shocks. We explain the specific propagation mechanisms on the labor market related to money supply shocks and show that they help to understand aggregate labor market dynamics.

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Bibliographic Info

Paper provided by CEPREMAP in its series CEPREMAP Working Papers (Couverture Orange) with number 9905.

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Length: 26 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:cpm:cepmap:9905

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  1. Gali, Jordi, 1992. "How Well Does the IS-LM Model Fit Postwar U.S. Data," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 107(2), pages 709-38, May.
  2. Hairault, J.O. & Portier, F., 1992. "Money New-Keynesian Macroeconomics and the Business Cycles," Papiers d'Economie Mathématique et Applications, Université Panthéon-Sorbonne (Paris 1) 92.32, Université Panthéon-Sorbonne (Paris 1).
  3. Ireland, Peter N., 1997. "A small, structural, quarterly model for monetary policy evaluation," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 47(1), pages 83-108, December.
  4. Andolfatto, David, 1996. "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, American Economic Association, vol. 86(1), pages 112-32, March.
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