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Pervasive stickiness : (expanded version)

著者: N Gregory Mankiw; Ricardo Reis; National Bureau of Economic Research.
出版: Cambridge, Mass. : National Bureau of Economic Research, 2006.
シリーズ: Working paper series (National Bureau of Economic Research), no. 12024.
エディション/フォーマット:   電子書籍 : Document : Englishすべてのエディションとフォーマットを見る
データベース:WorldCat
概要:
Abstract: This paper explores a macroeconomic model of the business cycle in which stickiness of information is pervasive. We start from a familiar benchmark classical model and add to it the assumption that there is sticky information on the part of consumers, workers, and firms. We evaluate the model against three key facts that describe short-run fluctuations: the acceleration phenomenon, the smoothness of real  続きを読む
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資料の種類: Document, インターネット資料
ドキュメントの種類: インターネットリソース, コンピューターファイル
すべての著者/寄与者: N Gregory Mankiw; Ricardo Reis; National Bureau of Economic Research.
OCLC No.: 63809452
注記: "February 2006."
Cover title.
物理形態: 1 online resource (25 pages).
シリーズタイトル: Working paper series (National Bureau of Economic Research), no. 12024.
責任者: N. Gregory Mankiw, Ricardo Reis.

概要:

Abstract: This paper explores a macroeconomic model of the business cycle in which stickiness of information is pervasive. We start from a familiar benchmark classical model and add to it the assumption that there is sticky information on the part of consumers, workers, and firms. We evaluate the model against three key facts that describe short-run fluctuations: the acceleration phenomenon, the smoothness of real wages, and the gradual response of real variables to shocks. We find that pervasive stickiness is required to fit the facts. We conclude that models based on stickiness of information offer the promise of fitting the facts on business cycles while adding only one new plausible ingredient to the classical benchmark.

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