Noussair, Charles N.; Pfajfar, Damjan; Zsiros, Janos - Federal Reserve Board (Board of Governors of the … - 2014
We construct experimental economies, populated with human subjects, with a structure based on a nonlinear version of the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model. We analyze the behavior of firms' pricing decisions in four different experimental economies. We consider...