haku: @author Kehoe, P. / yhteensä: 3
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| Tekijä: | Chari, V. Kehoe, P. McGrattan, E. |
| Otsikko: | Sticky price models of the business cycle: can the contract multiplier solve the persistence problem? |
| Lehti: | Econometrica
2000 : SEP, VOL. 68:5, p. 1151-1180 |
| Asiasana: | BUSINESS CYCLES PRICES MODELS |
| Kieli: | eng |
| Tiivistelmä: | The authors construct a quantitative equilibrium model with firms setting prices in a staggered fashion and use it to ask whether monetary shocks can generate business cycle fluctuations. These fluctuations include persistent movements in output along with the other defining features of business cycles, like volatile investment and smooth consumption. The authors assume that prices are exogenously sticky for a short time. |
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