Department of Social Engineering　Tokyo Institute of Technology

目的；これまで十分議論がなされてこなかった、マクロ経済動学の中でも，フィリップスカー ブにおける動学的安定性に関する新たな小野モデルの展開。

日時　２００７年１１月２０日午後１−３時
場所　東工大大岡山キャンパス西９号館２階　社工セミナー室　２０４
" Instability under Phillips Curves" by 大阪大学 小野 善康 教授 Professor Yoshiyasu Ono (Osaka University)

Instability under Phillips Curves

Abstract
The dynamic stability under the original, the New Classical, the New Keynesian and the hybrid Phillips curves is examined. If the nominal money stock is constant, the equilibrium path is either non-existent or indeterminate under the New Classical Phillips Curve and the hybrid one. Under the New Keynesian Phillips Curve the path is either determinate or indeterminate. Only under the original Phillips curve the path is always determinate. The stability of each Phillips curve under a passive and an active Taylor rule is also examined. It is found that a unique equilibrium path never obtains under the passive policy.

The 4th Cutting Edge International Workshop on Macro Economic Dynamics and Computable General Equilibrium Modeling of Climate Changes, November 20, 2007

Aim: Professor Ono discusses the stability of equilibrium path under alternative Phillips curve which is not well examined before. This model may contribute a new insight to not only global modeling but also more general macro modeling.

Date: 20th of November, 2007
Venue: room 204, West 9 building, Ookayama campus, Tokyo Institute of Technology
1300-1500 hours Professor Yoshiyasu Ono
Modulator Professor Noboru Hidano ( Economics program, Department of Social Engineering, Tokyo Institute of Technology)