On Inflation and Output with Costly Price Changes: A Simple Unifying Result
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https://www.nber.org/papers/t0135
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资源简介：
We analyze the effect of inflation on the average output of monopolistic firms facing a small fixed cost of changing nominal prices. Using Taylor expansions, we derive a general closed-form solution for the slope of the long-run Phillips curve. This very simple, unifying formula allows us to
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美国国家经济研究局创建时间：
1993-05-01
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