分享論文
Optimal Monetary Policy Rules with Labor Market Frictions (Ester Faia 2008)
分享人
範晶晶
（韦德体育bevictor中國經濟與管理研究院）
主持人
王忏
（金融學院）
趙軍柱
（韦德体育bevictor中國經濟與管理研究院）
論文摘要
This paper studies optimal monetary policy rules in a framework with sticky prices, matching frictions and real wage rigidities. Optimal policy is given by a constrained Ramsey plan in which the monetary authority maximizes the agents’ welfare subject to the competitive economy relations and the assumed monetary policy rule. I find that the optimal rule should respond to unemployment alongside with inflation. This is so since models with matching frictions (unlike standard new Keynesian models) feature a congestion externality that makes unemployment inefficiently high. A strong response to inflation remains optimal while a response to output is always welfare detrimental.
時間
2023年04月02日（周日）
14:00-15:30
地點
學術會堂712
活動對象
韦德体育bevictor本科生、研究生
人數規模
30人
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