Two New Keynesian Theories of Sticky Prices
AbstractThis paper compares two alternative theories of Aggregate supply, both with a "New Keynesian Flavor". The first assumes that prices are rigis due to the existence of menu costs of the kind advanced by Mankiw  and Akerlof and Yellen . The second derives price stickiness endogenously as one equilibrium in an economy with multiple equilibria.
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Bibliographic InfoPaper provided by European University Institute in its series Economics Working Papers with number eco99/33.
Length: 52 pages
Date of creation: 1999
Date of revision:
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PRICES ; ECONOMIC THEORY ; MACROECONOMICS;
Other versions of this item:
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
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- repec:fth:starer:9613 is not listed on IDEAS
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