PRICE FLEXIBILITY AND OUTPUT VOLATILITY UNDER MENU COSTS

This paper studies the implications of price flexibility on output volatility under menu costs and finds price flexibility to be output-destabilizing under supply shocks, but not necessarily so under demand shocks. We illustrate that such a result hinges on the extent to which firms can adjust along...

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Veröffentlicht in:	Macroeconomic dynamics 2021-12, Vol.25 (8), p.2180-2203, Article 1365100519001020
1. Verfasser:	Vu, Nam T.
Format:	Artikel
Sprache:	eng
Schlagworte:	Business & Economics Economic theory Economics Macroeconomics Price flexibility Social Sciences
Online-Zugang:	Volltext
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