Add wos sample results library

02-data/intermediate/wos_sample/f24b97eae5077d42730482a5961a7b4f-ahrens-steffen-and/info.yaml

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+abstract: 'We incorporate inequality aversion into an otherwise standard New
+
+  Keynesian dynamic stochastic equilibrium model with Calvo wage contracts
+
+  and positive inflation. Workers with relatively low incomes experience
+
+  envy, whereas those with relatively high incomes experience guilt. The
+
+  former seek to raise their income and the latter seek to reduce it. The
+
+  greater the inflation rate, the greater the degree of wage dispersion
+
+  under Calvo wage contracts, and thus the greater the degree of envy and
+
+  guilt experienced by the workers. Since the envy effect is stronger than
+
+  the guilt effect, according to the available empirical evidence, a rise
+
+  in the inflation rate leads workers to supply more labor over the
+
+  contract period, generating a significant positive long-run relation
+
+  between inflation and output (and employment), for low inflation rates.
+
+  Provided that wage adjustments are costly, this tradeoff remains
+
+  significant even once the degree of wage stickiness adjusts to the
+
+  inflation rate. This Phillips curve relation, together with an
+
+  inefficient zero-inflation steady state, provides a rationale for a
+
+  positive long-run inflation rate. Given standard calibrations, optimal
+
+  monetary policy is associated with a long-run inflation rate around 2\%.
+
+  (C) 2014 Elsevier B.V. All rights reserved.'
+affiliation: 'Ahrens, S (Corresponding Author), Tech Univ Berlin, Str 17 Juni 135,
+  D-10623 Berlin, Germany.
+
+  Ahrens, Steffen, Tech Univ Berlin, D-10623 Berlin, Germany.
+
+  Ahrens, Steffen; Snower, Dennis J., Kiel Inst World Econ, D-24105 Kiel, Germany.
+
+  Snower, Dennis J., Univ Kiel, D-24118 Kiel, Germany.
+
+  Snower, Dennis J., CEPR, London, England.
+
+  Snower, Dennis J., IZA, Bonn, Germany.'
+author: Ahrens, Steffen and Snower, Dennis J.
+author-email: 'steffen.ahrens@tu-berlin.de
+
+  dennis.snower@ifw-kiel.de'
+author_list:
+- family: Ahrens
+  given: Steffen
+- family: Snower
+  given: Dennis J.
+da: '2023-09-28'
+doi: 10.1016/j.jebo.2013.12.015
+eissn: 1879-1751
+files: []
+issn: 0167-2681
+journal: JOURNAL OF ECONOMIC BEHAVIOR \& ORGANIZATION
+keywords: Inflation; Long-run Phillips curve; Fairness; Inequality aversion
+keywords-plus: 'LONG-RUN NEUTRALITY; OPTIMAL MONETARY-POLICY; MAINTAINING LOW INFLATION;
+
+  PRICE ADJUSTMENT COSTS; STAGGERED WAGE; INDIVIDUAL SENSE; TREND
+
+  INFLATION; DECISION-MAKING; SOCIAL UTILITY; INTEREST-RATES'
+language: English
+month: MAR
+number-of-cited-references: '138'
+pages: 69-84
+papis_id: eef68d418a4c40e630863857d8df662d
+ref: Ahrens2014envyguilt
+times-cited: '6'
+title: Envy, guilt, and the Phillips curve
+type: Article
+unique-id: WOS:000333494300005
+usage-count-last-180-days: '0'
+usage-count-since-2013: '10'
+volume: '99'
+web-of-science-categories: Economics
+year: '2014'