NOTES FOR A NEW GUIDE TO KEYNES (I): WAGES, AGGREGATE DEMAND, AND EMPLOYMENT
通过新凯恩斯模型重新审视《通论》中工资对就业决定的作用，分析货币政策规则如何影响工资与就业的关联，并指出增强工资灵活性并不总能改善福利。
I revisit the General Theory’s discussion of the role of wages in employment determination through the lens of the New Keynesian model. The analysis points to the key role played by the monetary policy rule in shaping the link between wages and employment, and in determining the welfare impact of enhanced wage flexibility. I show that the latter is not always welfare improving.