名义工资的国际异质性与最优货币政策

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY Accounts of Chemical Research Pub Date : 2023-02-01 DOI:10.1111/infi.12429

Daisuke Ida, Mitsuhiro Okano

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引用次数: 0

摘要

本文研究了一个名义价格和工资交错的两国模型下的最优货币政策。我们发现，在给定本国名义工资粘性的情况下，外国名义工资粘性程度的变化会对承诺政策带来的全球福利损失和收益产生实质性影响。具体来说，当两国的名义工资都完全灵活时，承诺政策的福利收益是最大的。然而，当外国的名义工资更具粘性时，承诺带来的收益就会减少。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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International heterogeneity of nominal wages and optimal monetary policy

This paper examines optimal monetary policy in a two-country model with staggered nominal prices and wages. We show that given home nominal wage stickiness, changes in the degree of foreign nominal wage stickiness substantially impact the worldwide welfare losses and gains from commitment policy. Specifically, the welfare gains from a commitment policy are greatest when nominal wages in both countries are perfectly flexible. However, when nominal wages in the foreign country are stickier, the gains from commitment decrease.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.