Monetary policy and macroeconomic stability under alternative demand regimes
通过系统动力学方法，研究工资主导和利润主导两种需求体制下，实际工资与宏观经济活动的互动，并分析货币政策在两种体制中的稳定作用。
In this paper we analyse the interaction of macroeconomic activity and the dynamics of real wages from a theoretical perspective. By means of a system-dynamic approach we investigate the economic viability of wage- and profit-led demand regimes by analysing not only the effect of real wages on output, but also the feedback mechanisms of macroeconomic activity on the real wages. Furthermore, in this context, we focus on the role of monetary policy as a macroeconomic stabilisation mechanism in the two mentioned demand regimes.