The American Economic Review, Volume 97American Economic Association., 2007 |
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... sticky prices . If prices of long - lived durables are sticky , the model behaves as though most prices were sticky , even if most other goods are in fact flexibly priced . In contrast , if the durables have flexible prices , there is a ...
... sticky prices . If prices of long - lived durables are sticky , the model behaves as though most prices were sticky , even if most other goods are in fact flexibly priced . In contrast , if the durables have flexible prices , there is a ...
Página 990
when the durable goods have sticky prices while the nondurable goods have flexible prices . Even though only 25 ... sticky price model in response to monetary shocks . B. Analytical Discussion The numerical examples demonstrate the im ...
when the durable goods have sticky prices while the nondurable goods have flexible prices . Even though only 25 ... sticky price model in response to monetary shocks . B. Analytical Discussion The numerical examples demonstrate the im ...
Página 994
Fraction of Sticky Price Goods in GDP ( % ) FIGURE 3. VARIATION IN THE SHARE OF STICKY - PRICE GOODS IN GDP Notes ... prices . What is a Long - Lived Durable Good ? —The limiting result says that in response to a transi- tory shock , the ...
Fraction of Sticky Price Goods in GDP ( % ) FIGURE 3. VARIATION IN THE SHARE OF STICKY - PRICE GOODS IN GDP Notes ... prices . What is a Long - Lived Durable Good ? —The limiting result says that in response to a transi- tory shock , the ...
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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