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Price Adjustments in a General Model of State-Dependent Pricing

✍ Scribed by JAMES COSTAIN; ANTON NAKOV

Book ID
109147127
Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
279 KB
Volume
43
Category
Article
ISSN
0022-2879

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## Abstract Macroeconomic models of business cycles rely on the assumption that firms adjust prices infrequently to generate the short‐run non‐neutrality of money documented by the monetary transmission literature. They posit different mechanisms to generate price stickiness, with correspondingly d