| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966564 | Journal of Monetary Economics | 2011 | 20 Pages |
Abstract
⺠Generalized state-dependent pricing model nests Calvo and menu costs. ⺠Low degree of state dependence required to match distribution of price adjustments. ⺠Low state dependence implies nontrivial real effects of monetary shocks. ⺠Decompose inflation into intensive, extensive, and selection margins. ⺠Explain why sector-specific shocks may seem to have immediate, permanent effects.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
James Costain, Anton Nakov,