Chari, V. V.; Kehoe, Patrick J.; McGrattan, Ellen R. - Federal Reserve Bank of Minneapolis - 1998
monetary shocks can generate business cycle fluctuations. These fluctuations include persistent output fluctuations along with … the other defining features of business cycles, like volatile investment and smooth consumption. We assume that prices are … amount of endogenous stickiness is small. As a result, we find that in a standard quantitative business cycle model staggered …