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首页> 外文期刊>Journal of money, credit and banking >Long-Run Inflation and the Distorting Effects of Sticky Wages and Technical Change
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Long-Run Inflation and the Distorting Effects of Sticky Wages and Technical Change

机译：长期通货膨胀以及粘性工资和技术变革的扭曲效应

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摘要

We show that the Calvo price-setting model is not necessarily inconsistent with evidence of a weak relation between positive trend inflation and price dispersion. We identify the interaction between sticky wages and technical change as factors disrupting the allocative role of the wage system under positive trend inflation. In turn, this interaction generates inefficient wage dispersion, as opposed to price dispersion, which fuels inflation costs. We conclude that it is too early to dismiss the New Keynesian model as a useful vehicle to assess the costs of inflation.
机译：我们显示，Calvo价格设定模型不一定与正趋势通货膨胀与价格离散之间的弱关系的证据相矛盾。我们认为固定工资和技术变革之间的相互作用是在正向趋势通货膨胀下扰乱工资体系分配作用的因素。反过来，与价格分散相反，这种相互作用产生了低效的工资分散，从而加剧了通货膨胀成本。我们得出结论，认为将新凯恩斯模型作为评估通货膨胀成本的有用工具为时过早。

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