BOUAKEZ, Hafedh; CARDIA, Emanuela; RUGE-MURCIA, Francisco J. - Centre Interuniversitaire de Recherche en Économie … - 2008
Barsky, House and Kimball (2007) show that introducing durable goods into a sticky-price model leads to negative sectoral comovement of production following a monetary policy shock and, under certain conditions, to aggregate neutrality. These results appear to undermine sticky-price models. In...