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6月21日,王亮(University of Hawaii at Manoa)
发布时间:2018-06-08   发布人:zs   点击数:360

报告人:王亮,University of Hawaii at Manoa

时间:6月21日(周四)下午1:30—3:00

地点:博学楼1222教室

题目: Capital Pledgeability, Inflation and Unemployment

摘要:We study the effects of firm's credit condition on (1) labor market performance and (2) the inflation and unemployment relationship, in a new monetarist model. Better credit condition has a positive impact on the labor market as firms save on financing cost, improve profitability, and thus create more vacancies. Inflation increases the financing cost and thus discourages job creation. On the other hand, inflation lowers wage as employed workers carry a lower real balance compared to the unemployed ones. This encourages job creation. The overall e¤ect depends crucially on the credit condition. We show by examples that the Phillips curve can be upward or downward sloping, depending on the credit condition.

报告人简介:Liang Wang is an assistant professor of economics at University of Hawaii at Manoa.

 

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