Prices, Output and Hours: An Empirical Analysis Based on a Sticky Price Model
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I show that a simple sticky price model based on Rotemberg (1982) is consistent with a variety of facts concerning the correlation of prices, hours and output. In particular, I show that it is consistent with a negative correlation between the detrended levels of output and prices when the Beveridge
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美国国家经济研究局创建时间：
1994-12-01
