Sticky Prices Versus Sticky Information: Does it Matter for Policy Paradoxes?
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https://www.nber.org/papers/w23961
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This paper shows that government spending multiplier at the zero lower bound (ZLB) is larger under sticky information than under sticky prices. Similarly, well known paradoxes, e.g., the paradox of toil and the paradox of flexibility become more severe under sticky information. For the case of
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美国国家经济研究局创建时间：
2017-10-01
