The General Supply-Demand Multiplier
扩展了Barro-Grossman乘数理论,考虑商品和劳动市场不同部分的市场条件变化,提出需求和供给同时决定扰动对产出和就业的总效应,并分析就业与实际工资的关系。
The Barro-Grossman multiplier theory is extended to take variations in market conditions into account in different parts of the goods and labor markets, respectively. The generalization produces a multiplier theory where demand and supply elements simultaneously determine the total effects of various disturbances on production and employment. Implications for the relationship between employment and the real wage rate are presented. The analysis also suggests a new reason for the Leijonhufvud corridor effect.