Carlstrom, Charles T. (contributor); … - 2004 - [Elektronische Ressource]
), marginal cost falls so sharply that profits actually rise. To counter this
criticism, we next add sticky wages to the basic … share prices is equivalent to reacting to dividends.
3.b. Equilibrium determinacy with sticky wages.
We now consider the … polar opposite model of nominal rigidity: flexible prices, but
sticky nominal wages. Such a model may deliver differing …