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Macroeconomic and microeconomic data paint conflicting pictures of price behavior. Macroeconomic data suggest that inflation is inertial. Microeconomic data indicate that firms change prices frequently. We formulate and estimate a model which resolves this apparent micro - macro conflict. Our...
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integrate the model into a medium sized DSGE model with capital and show that the resulting model does as well as existing … shocks. -- DSGE ; unemployment ; business cycles ; monetary policy ; Bayesian estimation …
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integrate the model into a medium sized DSGE model with capital and show that the resulting model does as well as existing … shocks. - DSGE ; unemployment ; business cycles ; monetary policy ; Bayesian estimation …
Persistent link: https://www.econbiz.de/10003973491