| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966559 | Journal of Monetary Economics | 2011 | 12 Pages |
Abstract
⺠Both price and information frictions impede adjustment to a nominal shock. ⺠Observed adjustment delays, however, far exceed predicted levels. ⺠A common private (rather than a public) shock announcement contributes to inertia. ⺠A failure of sellers to best respond to their expectations also contributes to inertia.
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Economics and Econometrics
Authors
Douglas Davis, Oleg Korenok,