Add presentation slides for coincidence paper

content/papers/15.md

@@ -4,7 +4,6 @@ date: 2024-01-20
 url: /15/
 aliases:
     - /13pl.pdf
-    - /15p.pdf
 tags: ["business cycles","economic slack","efficiency","matching function","monetary policy","optimal control","price rigidity","social psychology","stabilization policy","sufficient statistics","unemployment gap","wealth in the utility","Phillips curve"]
 author: ["Pascal Michaillat","Emmanuel Saez"]
 description: "This paper develops a simple business-cycle model with divine coincidence: inflation is on target when unemployment is efficient." 
@@ -50,4 +49,10 @@ year = {2024},
 title = {Moen Meets Rotemberg: An Earthly Model of the Divine Coincidence},
 number = {arXiv:2401.12475v1},
 url = {https://doi.org/10.48550/arXiv.2401.12475}}
-```
+```
+
+---
+
+##### Related material
+
++ [Presentation slides](/15p.pdf)

public/15/index.html

@@ -70,8 +70,8 @@
   "keywords": [
     "business cycles", "economic slack", "efficiency", "matching function", "monetary policy", "optimal control", "price rigidity", "social psychology", "stabilization policy", "sufficient statistics", "unemployment gap", "wealth in the utility", "Phillips curve"
   ],
-  "articleBody": " View Paper Abstract This paper proposes a model of the divine coincidence, explaining its recent appearance in US data. The divine coincidence matters because it helps explain the behavior of inflation after the pandemic, and it guarantees that the full-employment and price-stability mandates of the Federal Reserve coincide. In the model, a Phillips curve relating unemployment to inflation arises from Moen’s (1997) directed search. The Phillips curve is nonvertical thanks to Rotemberg’s (1982) price-adjustment costs. The model’s Phillips curve guarantees that the rate of inflation is on target whenever the rate of unemployment is efficient, generating the divine coincidence. If we assume that wage decreases—which reduce workers’ morale—are more costly to producers than price increases—which upset customers—the Phillips curve also displays a kink at the point of divine coincidence.\nFigure 1: Divine coincidence in the United States Citation Michaillat, Pascal, and Emmanuel Saez. 2024. “Moen Meets Rotemberg: An Earthly Model of the Divine Coincidence.” arXiv:2401.12475v1. https://doi.org/10.48550/arXiv.2401.12475 .\n@techreport{MS24, author = {Pascal Michaillat and Emmanuel Saez}, year = {2024}, title = {Moen Meets Rotemberg: An Earthly Model of the Divine Coincidence}, number = {arXiv:2401.12475v1}, url = {https://doi.org/10.48550/arXiv.2401.12475}} ",
-  "wordCount" : "186",
+  "articleBody": " View Paper Abstract This paper proposes a model of the divine coincidence, explaining its recent appearance in US data. The divine coincidence matters because it helps explain the behavior of inflation after the pandemic, and it guarantees that the full-employment and price-stability mandates of the Federal Reserve coincide. In the model, a Phillips curve relating unemployment to inflation arises from Moen’s (1997) directed search. The Phillips curve is nonvertical thanks to Rotemberg’s (1982) price-adjustment costs. The model’s Phillips curve guarantees that the rate of inflation is on target whenever the rate of unemployment is efficient, generating the divine coincidence. If we assume that wage decreases—which reduce workers’ morale—are more costly to producers than price increases—which upset customers—the Phillips curve also displays a kink at the point of divine coincidence.\nFigure 1: Divine coincidence in the United States Citation Michaillat, Pascal, and Emmanuel Saez. 2024. “Moen Meets Rotemberg: An Earthly Model of the Divine Coincidence.” arXiv:2401.12475v1. https://doi.org/10.48550/arXiv.2401.12475 .\n@techreport{MS24, author = {Pascal Michaillat and Emmanuel Saez}, year = {2024}, title = {Moen Meets Rotemberg: An Earthly Model of the Divine Coincidence}, number = {arXiv:2401.12475v1}, url = {https://doi.org/10.48550/arXiv.2401.12475}} Related material Presentation slides ",
+  "wordCount" : "190",
   "inLanguage": "en",
   "image":"https://pascalmichaillat.org/15.png","datePublished": "2024-01-20T00:00:00Z",
   "dateModified": "2024-01-20T00:00:00Z",
@@ -221,7 +221,13 @@ <h5 id="citation">Citation</h5>
 </span></span><span style="display:flex;"><span><span style="color:#1e90ff">title</span> = <span style="color:#a50">{Moen Meets Rotemberg: An Earthly Model of the Divine Coincidence}</span>,
 </span></span><span style="display:flex;"><span><span style="color:#1e90ff">number</span> = <span style="color:#a50">{arXiv:2401.12475v1}</span>,
 </span></span><span style="display:flex;"><span><span style="color:#1e90ff">url</span> = <span style="color:#a50">{https://doi.org/10.48550/arXiv.2401.12475}</span>}
-</span></span></code></pre></div>
+</span></span></code></pre></div><hr>
+<h5 id="related-material">Related material</h5>
+<ul>
+<li><a href="/15p.pdf">Presentation slides</a>
+</li>
+</ul>
+
   </div>
 
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