Real Rigidities and the Non-Neutrality of Money
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Rigidities in real prices are not sufficient to create rigidities in nominal prices and real effects of nominal shocks. And, by themselves, small frictions in nominal adjustment, such as costs of changing prices, create only small non-neutralities. But this paper shows that substantial nominal
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美国国家经济研究局创建时间：
1987-12-01
