Asymmetric adjustments of price and output.
Classical theories predict rapid price adjustments, which are observed in inflationary episodes; Keynesian theories of sticky prices predict sluggish price responses, which are observed in contractions. We attempt to reconcile these observations in a model with asymmetries in producer price and out...
| Publicado en: | Economic Inquiry Vol. 35; pp. 631 - 653 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
July 1997
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |