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dc.contributor.authorDong, Meien_US
dc.date.accessioned2010-07-07en_US
dc.date.accessioned2011-12-15T12:58:46Z-
dc.date.available2011-12-15T12:58:46Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/53959-
dc.description.abstractUsing a monetary search model, Rocheteau, Rupert and Wright (2007) show that the relationship between inflation and unemployment can be positive or negative depending on the primitives of the model. The key features are indivisible labor, nonseparable preferences and bargaining. Their results are derived only for a special case of the bargaining solution, take-it-or-leave-it offer by buyers. Instead of bargaining, this paper considers competitive search (price posting with directed search). I show that the results in Rocheteau, Rupert and Wright (2007) can be generalized in an environment where both buyers and sellers have nonseparable preferences. In addition, the relationship between inflation and unemployment is robust to allowing free entry by sellers, which cannot be studied in Rocheteau, Rupert and Wright (2007).en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2010,15en_US
dc.subject.jelE40en_US
dc.subject.jelE52en_US
dc.subject.jelE12en_US
dc.subject.jelE13en_US
dc.subject.ddc330en_US
dc.subject.keywordInflation: costs and benefitsen_US
dc.subject.stwInflationsrateen_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwArbeitsangeboten_US
dc.subject.stwUnteilbarkeiten_US
dc.subject.stwVerhandlungsmachten_US
dc.subject.stwTheorieen_US
dc.titleInflation and unemployment in competitive search equilibriumen_US
dc.typeWorking Paperen_US
dc.identifier.ppn630742294en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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