THE PHILLIPS CURVE IN A MATCHING MODEL
Following ideas in Hume, monetary shocks are embedded in the Lagos‐Wright model in a new way: There are only nominal shocks accomplished by individual transfers that are sufficiently noisy so that realizations of those transfers do not permit the agents to deduce much about the aggregate realization...
|Place of publication:||
HOBOKEN WILEY 01.11.2019
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|published in:||International economic review (Philadelphia) Vol. 60; no. 4; pp. 1469 - 1487|
|Data of publication:||November 2019|
We are grateful to seminar participants at National Taiwan University, University of Bath, Penn State–Cornell Macro workshop, Richmond Fed, and UNSW. We are also grateful to the referees for helpful comments on an earlier draft of this article.
|Database:||Social Sciences Citation Index
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