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dc.creatorPalley,Thomas I.-
dc.date2009-12-01-
dc.date.accessioned2012-07-16T19:00:38Z-
dc.date.available2012-07-16T19:00:38Z-
dc.date.issued2012-07-16-
dc.identifierhttp://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S0185-16672009000400001-
dc.identifier.urihttp://repositoriodigital.academica.mx/jspui/handle/987654321/81366-
dc.descriptionThis paper excavates the micro-foundations of the Phillips curve and presents a model of the backward bending Phillips curve that incorporates elements of wage conflict. This unifies the conflict and demand-pull approaches that are often viewed as separate. There are two alternative micro-foundations for the Phillips curve. One emphasizes worker-firm conflict and incorporation of inflation expectations into nominal wages: the other emphasizes behavioral economics and near-rationality of expectations. A Phillips curve can emerge either because workers systematically under-predict inflation via near-rationality, or because workers do not fully incorporate inflation expectations owing to local unemployment conditions that induce wage concessions.-
dc.formattext/html-
dc.languageen-
dc.publisherInvestigación económica-
dc.subjectbackward bending Phillips curve-
dc.subjectbehavioral economics-
dc.subjectconflict economics-
dc.titleThe backward bending Phillips curves: competing micro-foundations and the role of conflict-
dc.typejournal article-
Aparece en las Colecciones:Investigación Económica

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