Deriving the wage-wage and price-price Phillips curves from a model with efficiency wages and imperfect information

Carl Campbell ()

Economics Letters, 2010, vol. 107, issue 2, 242-245

Abstract: This study derives reduced-form equations for the wage-wage Phillips curve and the price-price Phillips curve from firms' optimizing behavior, under the assumptions that firms pay efficiency wages and that workers' expectations of average wages or prices are partly adaptive.

Keywords: Phillips; curve; Efficiency; wages (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:107:y:2010:i:2:p:242-245

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