Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/49377
Authors: 
Vaona, Andrea
Year of Publication: 
2011
Series/Report no.: 
Kiel Working Paper 1715
Abstract: 
The paper extends the efficiency wages Phillips curve from a closed economy context to an open economy one with both commodity trade and capital mobility. Opening the trade account does not alter the slope of the Phillips curve, but it makes its position a function of the change of foreign and domestic outputs. Opening the capital account also alters the slope of the Phillips curve.
Subjects: 
Efficiency wages
money growth
Phillips curve
inflation
JEL: 
E3
E20
E40
E50
Document Type: 
Working Paper

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