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Pervasive stickiness : (expanded version)

저자: N Gregory Mankiw; Ricardo Reis; National Bureau of Economic Research.
출판사: Cambridge, Mass. : National Bureau of Economic Research, 2006.
시리즈: Working paper series (National Bureau of Economic Research), no. 12024.
판/형식:   전자도서 : 문서 : 영어모든 판과 형식 보기
데이터베이스:WorldCat
요약:
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  더 읽기…
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자료 유형: 문서, 인터넷 자료
문서 형식: 인터넷 자원, 컴퓨터 파일
모든 저자 / 참여자: N Gregory Mankiw; Ricardo Reis; National Bureau of Economic Research.
OCLC 번호: 63809452
메모: "February 2006."
Cover title.
설명: 1 online resource (25 pages).
일련 제목: Working paper series (National Bureau of Economic Research), no. 12024.
책임: N. Gregory Mankiw, Ricardo Reis.

초록:

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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