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(DP 1991-02) Aggregate Supply: A Reformulation
UPSE Discussion Papers
View Archive Info| Field | Value | |
| Title |
(DP 1991-02) Aggregate Supply: A Reformulation
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| Creator |
Encarnacion, Jr., Jose
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| Description |
This paper proposes an aggregate supply function based on monopolistically competitive firms without assuming a Phillips curve relation. With aggregate demand the resulting framework can accommodate Phillips curves, stagflation, and procyclical real wages. There is a range of potential full-employment output levels, and interestingly, from unemployment equilibrium it may be possible to reach full employment with a higher real wage.
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| Publisher |
UPSE Discussion Papers
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| Contributor |
—
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| Date |
2010-08-28
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/211
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| Source |
UPSE Discussion Papers; 1991
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| Language |
eng
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| Relation |
http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/211/286
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