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| Author: | Kandil, M. |
| Title: | Is increased nominal flexibility stabilizing? Some international evidence |
| Journal: | Economica
1991 : NOV, VOL. 58:232, p.441-459 |
| Index terms: | MACROECONOMICS KEYNESIAN SCHOOL OUTPUT FLEXIBILITY INTERNATIONAL |
| Language: | eng |
| Abstract: | The paper was stimulated by a number of recent studies in which researchers have attempted to determine the impact of the increased nominal rigidity on the stability of real output. In the recent article the validity of two major "Keynesian" explanations are tested. The first is the conventional sticky wage/ sticky price explanation which suggests that the increased nominal rigidity is destabilizing. The second is a recently developed explanation which suggests that the increased flexibility is destabilizing. The results are consistent with the conventional implications. |
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