A General Equilibrium Macro Model with Wage Bargaining
构建了一个包含资本家与工人的一般均衡宏观模型，工资由雇主联盟与工会谈判决定，发现某些参数下会出现持久性失业，且货币政策具有中性。
In a general equilibrium macro model with wage bargaining, agents are divided into capitalists and workers. The markets for produced goods and money are competitive but the wage rate is determined by negotiation between an employers' union and a trade union. Unions are supposed to be long sighted and care about members' utilities in stationary states. Nash bargaining equilibria are characterized by unemployment for certain parameter values. This unemployment is persistent in the sense that it appears in an equilibrium with endogenous prices. A neutrality result for monetary policy is also shown.