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On the existence of pricing strategies in the discrete time heterogeneous single bottleneck model

✍ Scribed by Kien Doan; Satish Ukkusuri; Lanshan Han


Book ID
113887398
Publisher
Elsevier
Year
2011
Tongue
English
Weight
906 KB
Volume
17
Category
Article
ISSN
1877-0428

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## Abstract We demonstrate the important implications of the assumptions of discrete time in many sticky price models of the macroeconomy. For a given level of menu costs, discrete time models imply longer average contract length but smaller real effects of both trend inflation and monetary shocks