Monetary Non-Neutrality in a Multi-Sector Menu Cost Model
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Empirical evidence suggests that as much as 1/3 of the U.S. business cycle is due to nominal shocks. We calibrate a multi-sector menu cost model using new evidence on the cross-sectional distribution of the frequency and size of price changes in the U.S. economy. We augment the model to incorporate
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美国国家经济研究局创建时间：
2008-05-01
