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Toward a General Theory of Wage and Price Rigidities and Economic Fluctuations

机译:迈向工资和价格刚性与经济波动的一般理论

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This paper begins with the hypothesis that large economic fluctuations, the marked changes in the unemployment that character- ize market economies, are a consequence of problems of adjustment to disturbances, es- pecially adjustments of wages and prices. Two strands of work have addressed these problems of adjustment. One focuses on rigidities: downward rigidities in wages are at the center of traditional Keynesian models.
机译:本文从以下假设开始,即巨大的经济波动(表征市场经济的失业率的显着变化)是对干扰进行调整的问题的结果,尤其是工资和价格的调整。有两部分工作解决了这些调整问题。一个人关注刚性:工资的下降刚性是传统凯恩斯主义模型的核心。

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