A Monetary Model of Business Cycle with Search on the Labor Market

Arnaud Cheron and Francois Langot

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: This paper studies the cyclical labor market properties of a model which can account for the Phillips and Beveridge curves. Monopolistic competition and sticky prices on the good market are introduced in a labor market search model disturbed both by technological and money supply shocks. We explain the specific propagation mechanisms on the labor market related to money supply shocks and show that they are quantitatively relevant.

Keywords: UNEMPLOYMENT; BUSINESS CYCLES; PRICES (search for similar items in EconPapers)
JEL-codes: E24 E31 E32 (search for similar items in EconPapers)
Pages: 25 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:98.56

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