The American Economic Review, Volume 97American Economic Association., 2007 |
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Página 990
... durables have sticky prices is particu- larly important in determining the model's behavior . Indeed , the long - lived durables dom- inate the model , a fact that is revealed in a number of guises . Some of the more interesting ...
... durables have sticky prices is particu- larly important in determining the model's behavior . Indeed , the long - lived durables dom- inate the model , a fact that is revealed in a number of guises . Some of the more interesting ...
Página 991
... durable has many consequences . Flexible Durables Prices and Aggregate Neutrality . The simulations suggested that when the durables had flexible prices , money was essentially neutral at the aggregate level . The monetary disturbance ...
... durable has many consequences . Flexible Durables Prices and Aggregate Neutrality . The simulations suggested that when the durables had flexible prices , money was essentially neutral at the aggregate level . The monetary disturbance ...
Página 992
... durables have sticky prices , negative co- movement occurs for any long - lived durable with flexible prices . ( This point is discussed at greater length in Barsky , House , and Kimball 2003. ) Thus , for durable goods to expand ...
... durables have sticky prices , negative co- movement occurs for any long - lived durable with flexible prices . ( This point is discussed at greater length in Barsky , House , and Kimball 2003. ) Thus , for durable goods to expand ...
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EDMUND S PHELPS | 541 |
O 2 0 2007 | 713 |
ALMA COHEN AND LIRAN EINAV | 745 |
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agents aggregate American Economic Review analysis assets assume assumption average behavior benchmark Beveridge curve business cycles candidates capital changes choice coefficient cointegration consumer consumption contracts correlation cost of business countercyclical deductible degree distributions distribution durables effect empirical equation equilibrium estimated exchange expected Figure firms function given growth HIP model households implies impulse responses income increase individuals inflation inventory investment investment rate Journal of Economics labor market loss aversion marginal likelihood matching Matthew Rabin ment Michael Woodford monetary policy nodes nomic observed optimal output pairs paper parameters patients percent policy shock post.com preferences procyclical production Proposition random regime relative response risk aversion sample Section sector Shapley value side payments simulations sticky prices stochastic Table theory tion tradable unemployment utility variables variance volatility vouchers wage workers Yangzi Delta