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Lindbeck, Assar; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1994

The paper shows how prolonged price inertia can arise in a macroeconomic system in which there are temporary price rigidities as well as production lags in the use of intermediate goods. In this context, changes in product demand -- generated, say, by changes in the money supply -- have...

Persistent link: https://www.econbiz.de/10005792119

Price Dynamics and Production Lags

Lindbeck, Assar; Snower, Dennis J. - Institute for the Study of Labor (IZA) - 1999

This paper provides a new explanation of why inflation is sluggish in response to aggregate demand shocks and why … rationale for a prolonged inverse relation between inflation and unemployment. The paper suggests that the interaction of … inflation persistence and unemployment persistence may offer a possible explanation of high and prolonged European unemployment. …

Persistent link: https://www.econbiz.de/10005702997

Price Dynamics and Production Lags

Lindbeck, Assar; Snower, Dennis J. - Institutet för Näringslivsforskning (IFN) - 1996

The paper shows how prolonged price inertia can arise in a macroeconomic system in which there are temporary price rigidities as well as production lags in the use of intermediate goods. In this context, changes in production demand - generated, say, by changes in the money supply - have...

Persistent link: https://www.econbiz.de/10010600197