Evaluating the Calvo Model of Sticky Prices
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Can variants of the classic Calvo (1983) model of sticky prices account for the statistical behavior of post-war US inflation? We develop and test versions of the model for which the answer to this question is yes. We then investigate whether these models imply plausible degrees of inertia in price
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美国国家经济研究局创建时间：
2004-07-01
