Intermediate Goods and Unemployment: A New Monetarist Approach

• Main Authors: WU, YU-ZHEN, 吳育甄
• Other Authors: CHANG, TE-TSUN
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/36z3yv

碩士 === 國立暨南國際大學 === 經濟學系 === 107 === Inflation rates and unemployment rates are important economic indicators. We study the long-run relationship between inflation and unemployment. Generally speaking, intermediate goods firms always make decisions before final goods firms. Therefor we use monetary model based on the search-and-bargaining approach to discuss intermediate goods market and unemployment rates. We calibrate the model and find out that when the inflation rate is high, final goods firms don’t want to buy intermediate goods and thus intermediate goods firms don’t hire employees to produce intermediate goods. At last, we can get a Phillips curve with a positive slope in the long run.