We study the implications of increased price flexibility on aggregate output volatility in a dynamic stochastic general … effect of demand shocks on output if interest rates do not respond strongly to infl ation, while higher flexibility amplifies … finding is that increased price flexibility would have been destabilizing for output and employment. -- increased price …

Volatilität, konfrontiert, auf die es flexibel zu reagieren gilt. In der Theorie geht die Flexibilitätsforschung zwar auf die …