This paper considers a generalization of the Stackelberg model to cover a T‐stage framework with several leaders and followers who compete on quantities. Assuming a linear demand function and constant marginal costs, we introduce constant conjectural variations in order to capture various...

La Persistance de l'Inflation dans les Modèles Néo-Keynésiens, by Mohamed Safouane Ben Aïssa and Olivier Musy We derive the inflation dynamics implied by the different hypothesis on price adjustment existing in the New Keynesian litterature. We study the response of output and inflation in...

This paper analyses the impact of the disinflation policy timing on the sign and the magnitude of the sacrifice ratio in a modified price and wage staggered model of Blanchard (1986). When wages are updated every four quarters and prices every two quarters, we show that a "cold-turkey"...

Nous décrivons les dynamiques de l'inflation issues des différentes hypothèses d'ajustement des prix rencontrées dans la littérature néo-keynésienne. Pour chaque modèle nous calculons la réponse de l'inflation et du produit suite à un choc sur le taux de croissance de la masse...