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A sticky-price manifesto

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Author Info

  • Laurence Ball
  • N. Gregory Mankiw

Abstract

Macroeconomists are divided on the best way to explain short-run economic fluctuations. This paper presents the case for traditional theories based on short-run price stickiness. It discusses the fundamental basis for believing in this class of macreconomic models. It also discusses recent research on the microeconomic foundations of sticky prices.

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Bibliographic Info

Article provided by Federal Reserve Bank of Dallas in its journal Proceedings.

Volume (Year): (1994)
Issue (Month): Apr ()
Pages:

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Handle: RePEc:fip:feddpr:y:1994:i:apr:n:1

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Keywords: Prices;

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  1. Laurence Ball & N. Gregory Mankiw, 1994. "Asymmetric Price Adjustment and Economic Fluctuations," NBER Working Papers 4089, National Bureau of Economic Research, Inc.
  2. N. Gregory Mankiw, 1994. "Monetary Policy," NBER Books, National Bureau of Economic Research, Inc, number greg94-1, October.
  3. Laurence Ball, 1994. "What Determines the Sacrifice Ratio?," NBER Chapters, in: Monetary Policy, pages 155-193 National Bureau of Economic Research, Inc.
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