Liang Wang :Capital Pledgeability, Inflation and Unemployment

时间:2018-06-05浏览:34设置

讲座时间:2018年6月14日(周四),10:30-12:00

讲座地点:中北校区理科大楼A302室

讲座人:Liang Wang (University of Hawaii)

讲座题目:Capital Pledgeability, Inflation and Unemployment

讲座主持人:张敏

论文提要:We study the effects of firm's credit condition on (1) labor market performance and (2) the inflation and unemployment relationship, in a new monetarist model. Better credit condition has a positive impact on the labor market as firms save on financing cost, improve profitability, and thus create more vacancies. Inflation increases the financing cost and thus discourages job creation. On the other hand, inflation lowers wage as employed workers carry a lower real balance compared to the unemployed ones. This encourages job creation. The overall effect depends crucially on the credit condition. We show by examples that the Phillips curve can be upward or downward sloping, depending on the credit condition.

演讲人简介:LiangWang,美国夏威夷大学终身教授,美国宾夕法尼亚大学经济学博士。研究方向为宏观经济学与货币经济学。


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