Matches in SemOpenAlex for { <https://semopenalex.org/work/W2154153089> ?p ?o ?g. }
- W2154153089 abstract "We present a static model of aggregate demand and unemployment. The economy has a nonproduced good, a produced good, and labor. Product and labor markets have matching frictions. A general equilibrium is a set of prices, market tightnesses, and quantities such that buyers and sellers optimize given prices and tightnesses, and actual tightnesses equal posted tightnesses. In each frictional market, there is one more variable than equilibrium condition. To close the model, we take all prices as parameters. We obtain the following results: (1) unemployment and unsold production prevail in equilibrium; (2) each market can be slack, efficient, or tight if the price is too high, efficient, or too low; (3) product market tightness and sales are positively correlated under aggregate demand shocks but negatively correlated under aggregate supply shocks; (4) transfers from savers to spenders stimulate aggregate demand, product market tightness, and employment; (5) the government-purchase multiplier is positive when the economy is slack, zero when the economy is efficient, and negative when the economy is tight; (6) with unequal distribution of profits and labor income, a wage increase may stimulate aggregate demand and reduce unemployment." @default.
- W2154153089 created "2016-06-24" @default.
- W2154153089 creator A5013275072 @default.
- W2154153089 creator A5017685817 @default.
- W2154153089 date "2013-08-01" @default.
- W2154153089 modified "2023-09-23" @default.
- W2154153089 title "A Model of Aggregate Demand and Unemployment" @default.
- W2154153089 cites W1535301829 @default.
- W2154153089 cites W1542505976 @default.
- W2154153089 cites W1564595839 @default.
- W2154153089 cites W1567006045 @default.
- W2154153089 cites W1586450784 @default.
- W2154153089 cites W1605378965 @default.
- W2154153089 cites W1652927935 @default.
- W2154153089 cites W2013860961 @default.
- W2154153089 cites W2019241877 @default.
- W2154153089 cites W2027736991 @default.
- W2154153089 cites W2035805224 @default.
- W2154153089 cites W2045570892 @default.
- W2154153089 cites W2051133393 @default.
- W2154153089 cites W2062400400 @default.
- W2154153089 cites W2071919730 @default.
- W2154153089 cites W2086578213 @default.
- W2154153089 cites W2093980518 @default.
- W2154153089 cites W2116363632 @default.
- W2154153089 cites W2125549684 @default.
- W2154153089 cites W2128749569 @default.
- W2154153089 cites W2131455659 @default.
- W2154153089 cites W2137057669 @default.
- W2154153089 cites W2141151054 @default.
- W2154153089 cites W2141655366 @default.
- W2154153089 cites W2143220399 @default.
- W2154153089 cites W2185647741 @default.
- W2154153089 cites W2256954462 @default.
- W2154153089 cites W2323266160 @default.
- W2154153089 cites W2890776748 @default.
- W2154153089 cites W3093774780 @default.
- W2154153089 cites W3121408141 @default.
- W2154153089 cites W3121814081 @default.
- W2154153089 cites W3122041116 @default.
- W2154153089 cites W3122544990 @default.
- W2154153089 cites W3124863551 @default.
- W2154153089 cites W3126084767 @default.
- W2154153089 cites W1887390648 @default.
- W2154153089 cites W1984797639 @default.
- W2154153089 hasPublicationYear "2013" @default.
- W2154153089 type Work @default.
- W2154153089 sameAs 2154153089 @default.
- W2154153089 citedByCount "1" @default.
- W2154153089 countsByYear W21541530892012 @default.
- W2154153089 crossrefType "posted-content" @default.
- W2154153089 hasAuthorship W2154153089A5013275072 @default.
- W2154153089 hasAuthorship W2154153089A5017685817 @default.
- W2154153089 hasConcept C103382277 @default.
- W2154153089 hasConcept C120330832 @default.
- W2154153089 hasConcept C123336316 @default.
- W2154153089 hasConcept C126285488 @default.
- W2154153089 hasConcept C139719470 @default.
- W2154153089 hasConcept C145236788 @default.
- W2154153089 hasConcept C162324750 @default.
- W2154153089 hasConcept C175444787 @default.
- W2154153089 hasConcept C195534400 @default.
- W2154153089 hasConcept C203379541 @default.
- W2154153089 hasConcept C2524010 @default.
- W2154153089 hasConcept C2778126366 @default.
- W2154153089 hasConcept C29122968 @default.
- W2154153089 hasConcept C33923547 @default.
- W2154153089 hasConcept C556758197 @default.
- W2154153089 hasConcept C59329165 @default.
- W2154153089 hasConcept C68356823 @default.
- W2154153089 hasConcept C90673727 @default.
- W2154153089 hasConceptScore W2154153089C103382277 @default.
- W2154153089 hasConceptScore W2154153089C120330832 @default.
- W2154153089 hasConceptScore W2154153089C123336316 @default.
- W2154153089 hasConceptScore W2154153089C126285488 @default.
- W2154153089 hasConceptScore W2154153089C139719470 @default.
- W2154153089 hasConceptScore W2154153089C145236788 @default.
- W2154153089 hasConceptScore W2154153089C162324750 @default.
- W2154153089 hasConceptScore W2154153089C175444787 @default.
- W2154153089 hasConceptScore W2154153089C195534400 @default.
- W2154153089 hasConceptScore W2154153089C203379541 @default.
- W2154153089 hasConceptScore W2154153089C2524010 @default.
- W2154153089 hasConceptScore W2154153089C2778126366 @default.
- W2154153089 hasConceptScore W2154153089C29122968 @default.
- W2154153089 hasConceptScore W2154153089C33923547 @default.
- W2154153089 hasConceptScore W2154153089C556758197 @default.
- W2154153089 hasConceptScore W2154153089C59329165 @default.
- W2154153089 hasConceptScore W2154153089C68356823 @default.
- W2154153089 hasConceptScore W2154153089C90673727 @default.
- W2154153089 hasOpenAccess W2154153089 @default.
- W2154153089 hasRelatedWork W1483994175 @default.
- W2154153089 hasRelatedWork W1517754918 @default.
- W2154153089 hasRelatedWork W1521493264 @default.
- W2154153089 hasRelatedWork W1522832978 @default.
- W2154153089 hasRelatedWork W1527217101 @default.
- W2154153089 hasRelatedWork W1536120419 @default.
- W2154153089 hasRelatedWork W1539733761 @default.
- W2154153089 hasRelatedWork W1545594920 @default.
- W2154153089 hasRelatedWork W1569755679 @default.
- W2154153089 hasRelatedWork W1569824447 @default.