Reconsideration of the P-Bar Model of Gradual Price Adjustment
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下载链接：
https://www.nber.org/papers/w14163
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资源简介：
This paper compares the P-bar model of price adjustment with the currently dominant Calvo specification. Theoretically, the P-bar model is more attractive as it depends upon adjustment costs for physical quantities rather than nominal prices, while incorporating a one-period information lag.
提供机构：
美国国家经济研究局
创建时间：
2008-07-01
