its average price was judged to be higher. The same results were obtained when choices were made a day apart, when price …

adopts the optimal policy. When the monetary policy rules are modified to include some weight on a price path, the economy … achieves equilibria with substantially lower long-run inflation risk. With either sticky prices or sticky wages, a price path …

Price setting has become more flexible following a string of large adverse shocks (Covid-19, the Ukraine War). We argue … idea in a general equilibrium model with endogenous price flexibility and entry-exit. Faced with higher productivity …

The aim of the present paper is to analyze the link between price rigidity and indeterminacy. This is done within a … that price stickiness reduces the scope of these sunspot equilibria: sluggish price adjustment requires degrees of relative …