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Nonuniform Staggered Prices and Output Persistence.
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نوع المصدر |
مقال
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بيانات التأليف |
SضDERBERG,, JOHAN. (Author)
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بيانات الدورية المصدر |
العنوان:
Journal of Money, Credit, and Banking
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رقم المجلد/ العدد: 2013/SEP V.45 N.6
رقم الإستدعاء: 332.05 JMC الموقع: Periodicals & References Hall - 2nd floor
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الوصف المادي |
p 1017-1044
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رأس الموضوع/ الواصفات |
Economics
(9033)
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المستخلص |
Staggered prices are a fundamental building block of New Keynesian dynamic stochastic general equilibrium models. In the standard model, prices are uniformly staggered, but recent empirical evidence suggests that deviations from uniform staggering are common. This paper analyzes how synchronization of price changes affects the response to monetary policy shocks. I find that even large deviations from uniform staggering have small effects on the response of output. Aggregate dynamics in a model of uniform staggering may serve well as an approximation to a more complicated model with some degree of synchronization in price setting....
المستخلص الكامل
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| المزيد من المقالات من
الدورية:
Journal of Money, Credit, and Banking
(532)
العدد: 2013/SEP V.45 N.6
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