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Real Keynesian Models and Sticky Prices

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NBER2018-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w24223
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In this paper we present a generalized sticky price model which allows, depending on the parameterization, for demand shocks to maintain strong expansionary effects even in the presence of perfectly flexible prices. The model is constructed to incorporate the standard three-equation New Keynesian
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2018-01-01
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