In recent papers it is shown that in the presence of price stickiness, investment and capital accumulation activity, active monetary policy (MP) rules can lead to indeterminacy under various assumptions about the structure of the model. We analyze the conditions for real indeterminacy to occur...

Concerning the period 1990-2004, one can formulate a hypothesis of economic and national industrial cyclical phenomenon of “Juglar” type, with two visible evolution periods, the former of expansion and the latter of recession, and between them, less evident, the crisis and the downward. The...

We offer new evidence on the link between price points and price rigidity using two datasets. One is a large weekly transaction price dataset, covering 29 product categories over an eight-year period from a large U.S. supermarket chain. The other is from the Internet, and includes daily prices...

The fundamental purpose of this paper is to identify the nature of impulse mechanism, from which random shocks to general price and income levels are generated. In recent business cycle literature, it is generally accepted that business cycles are triggered by random productivity and technology...

Observed trade flows provide one metric to gauge the degree of international goods market segmentation. Deviations from the law of one price provide another. New survey data on retail prices for a broad cross section of goods across 13 EU countries, compiled by Crucini, Telmer and Zachariadis...

The Fisher-Seater (1993) methodology is applied to Guatemala data (1950-2002) in order to test for long-run neutrality of money. Real GDP, consumption, investment and public expenditure, and the monetary base and M2a are found to be I(1). Given this order of integration, we applied the Fisher...