دانلود مقاله ISI انگلیسی شماره 58442
عنوان فارسی مقاله

حسادت، احساس گناه و منحنی فیلیپس

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
58442 2014 16 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Envy, guilt, and the Phillips curve ☆
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Economic Behavior & Organization, Volume 99, March 2014, Pages 69–84

کلمات کلیدی
تورم؛منحنی فیلیپس بلندمدت ؛ انصاف؛ نابرابری گریزی
پیش نمایش مقاله
پیش نمایش مقاله حسادت، احساس گناه و منحنی فیلیپس

چکیده انگلیسی

We incorporate inequality aversion into an otherwise standard New Keynesian dynamic stochastic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their income and the latter seek to reduce it. The greater the inflation rate, the greater the degree of wage dispersion under Calvo wage contracts, and thus the greater the degree of envy and guilt experienced by the workers. Since the envy effect is stronger than the guilt effect, according to the available empirical evidence, a rise in the inflation rate leads workers to supply more labor over the contract period, generating a significant positive long-run relation between inflation and output (and employment), for low inflation rates. Provided that wage adjustments are costly, this tradeoff remains significant even once the degree of wage stickiness adjusts to the inflation rate. This Phillips curve relation, together with an inefficient zero-inflation steady state, provides a rationale for a positive long-run inflation rate. Given standard calibrations, optimal monetary policy is associated with a long-run inflation rate around 2%.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.