Is there a Trade-Off between Inflation and Output Stabilization?
基于美国DSGE模型，研究发现工人市场势力的外生变动并非经济波动主因时，通胀与产出稳定间无权衡；即使存在，对最优政策下经济均衡行为影响可忽略。
We find that the answer is no in an estimated DSGE model of the US economy in which exogenous movements in workers' market power are not a major driver of observed economic fluctuations. If they are, the tension between the conflicting stabilization objectives of monetary policy increases, but with negligible effects on the equilibrium behavior of the economy under optimal policy.