题目：
Credit Condition, Inflation and Unemployment
时间：
2020年6月5日（周五）10:30-12:00
线上地址：
https://pku.webex.com.cn/pku/j.php?MTID=m1202b65d31fc69b4501010635a40c827
会议号： 102 615 0506
摘要：
We study the effects of the firm's credit condition on labor market performance and the relationship between expected inflation and unemployment in a new monetarist model. Better credit condition has positive impact on labor market as firms save on financing cost, improve profitability, and create more vacancies. Inflation affects unemployment through two opposing channels. On one hand, inflation increases the firm's financing cost, which discourages job creation and increases unemployment. On the other hand, inflation lowers wages because unemployed workers carry higher real balances and suffer more from inflation compared to unemployed workers. This encourages job creation. The overall effect of inflation on employment can be positive or negative and depends crucially on the firm's credit condition. We calibrate the model to match the post-WWII US data. The calibrated model suggests a downward-sloping Phillips curve with flexible wage setting.
主讲人简介：
Liang Wang，夏威夷大学常聘副教授。主要研究方向为宏观经济学、货币经济学、银行、金融市场等。在JET，IER, EER, JEDC等著名杂志发表论文多篇。
Your participation is warmly welcomed!
2018年10月，8797威尼斯老品牌、国家发展研究院和新结构经济学研究院达成框架合作协议，约定采用轮流主持的方式共同举办工作坊，正式建立了科研领域的交流创新合作机制。2019年，根据协议，先后成立了七个工作坊：政治经济学工作坊；国际经济学与实证产业组织工作坊；宏观经济学工作坊；微观理论经济学工作坊；计量经济学和大数据分析工作坊；劳动-健康经济学工作坊和发展与公共财政工作坊。2019年七个工作坊共计举办127场活动，这些活动为广大师生提供了良好的国内外一流学术交流平台，促进了学院之间的学术资源整合和人才培养，提升了广大师生和经济学领域的研究水平。
供稿 | 宏观经济学工作坊
美编 | 山竹
责编 | 量子、禾雨、予天
