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Persistent link: https://www.econbiz.de/10013171549
In a broad class of sticky price models the non-neutrality of nominal shocks is encoded by a simple sufficient statistic: the ratio of the kurtosis of the size-distribution of price changes over the frequency of price changes. We test this theoretical prediction using data for a large number of...
Persistent link: https://www.econbiz.de/10012696399
In a broad class of sticky price models the non-neutrality of nominal shocks is encoded by a simple sufficient statistic: the ratio of the kurtosis of the size-distribution of price changes over the frequency of price changes. We test this theoretical prediction using data for a large number of...
Persistent link: https://www.econbiz.de/10013313389
In a broad class of sticky price models the non-neutrality of nominal shocks is encoded by a simple sufficient statistic: the ratio of the kurtosis of the size-distribution of price changes over the frequency of price changes. We test this theoretical prediction using data for a large number of...
Persistent link: https://www.econbiz.de/10013323405
Persistent link: https://www.econbiz.de/10012666878