Inventories, Markups, and Real Rigidities in Menu Cost Models
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Real rigidities that limit the responsiveness of real marginal cost to output are a key ingredient of sticky price models necessary to account for the dynamics of output and inflation. We argue here, in the spirit of Bils and Kahn (2000), that the behavior of marginal cost over the cycle is directly
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美国国家经济研究局创建时间：
2009-01-01
