Etro, Federico; Rossi, Lorenza - Dipartimento di Scienze Economiche e Aziendali, … - 2014
We reconsider the New-Keynesian model with staggered price setting when each market is characterized by a small number of firms competing in prices à la Bertrand rather than a continuum of isolated monopolists. Price adjusters change their prices less when there are more firms that do not...