output and inflation across a population of firms is studied. The only form of heterogeneity is confined to the probability … that the ith changes its prices in response to a shock. In this Calvo setup the moments of the cross sectional distribution … of output and inflation depend crucially on the proportion of firms that are allowed to change their prices. We test this …

identified shock has contributed to the business cycle fluctuations. - Business cycle accounting ; dynamic stochastic general …

German unifikation hit the West German economy in a prosperous and appeared as a huge demand shock at least for the … those resulting from the demand shock of German unification, to effect not only German trade flows, but also real variables …

Inhalt dieses Beitrags ist die Simulation einer alternativen Geldpolitik der Deutschen Bundesbank mit Hilfe eines …