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| Author: | Kiley, M. |
| Title: | Endogenous price stickness and business cycle persistence |
| Journal: | Journal of Money, Credit and Banking
2000 : FEB, VOL. 32:1, p. 28-53 |
| Index terms: | PRICING BUSINESS CYCLES MONEY |
| Language: | eng |
| Abstract: | Sticky prices help generate persistent output fluctuations in response to aggregate demand shocks. This paper develops a model in which price stickiness is endogenous and generates persistent output fluctuations. Since the degree of price stickiness should be lower in high-inflation economies, output persistence should also be lower in high-inflation economies. |
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