调整过程中的价格刚性与失业要素波动:一个动态一般均衡角度的分析

运用多产品和多要素的动态一般均衡模型,该文研究了从一个均衡价格向另一个均衡价格过渡的调整过程.应用搜寻模型,该文建立了一种联系产品市场和要素市场的调整技术,随后求解了一个最优控制问题,并证明最优价格调整路径必然是渐进的、逐步的.

PRICE RIGIDITIES AND UNEMPLOYMENT FACTOR FLUCTUATIONS IN THE ADJUSTMENT PROCESS: A DYNAMIC GENERAL EQUILIBRIUM APPROACH

Using a dynamic general equilibrium model with many goods and factors, this paper studies the adjustment process in a transition from one equilib- rium to another. Applying a search process, an adjustment technique is developed to link the product and factor markets. Then an optimal control problem is solved and the optimal price is shown to be periodical, which generates price rigidities and unemployment factor fluctuations. Optimal price adjustment takes more than one period. Therefore, the optimal price ...