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We study models where prices respond slowly to shocks because firms are rationally inattentive. Producers must pay a cost to observe the determinants of the current profit maximizing price, and hence observe them infrequently. To generate large real effects of monetary shocks in such a model the...
Persistent link: https://www.econbiz.de/10012457849
We study models where prices respond slowly to shocks because firms are rationally inattentive. Producers must pay a cost to observe the determinants of the current profit maximizing price, and hence observe them infrequently. To generate large real effects of monetary shocks in such a model the...
Persistent link: https://www.econbiz.de/10013031012
Chapter 1. Introduction -- Chapter 2. Are Current Policies on Track to Eliminate Poverty? -- Chapter 3. How Mainstream … people’s living conditions in the long term. According to dominant economic theory, markets are the essential engines of … growth and poverty reduction in developing countries. However, the track record so far is disappointing. On the other hand …
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