Economics, Econometrics and Finance
4 years ago

Unveiling the Power of Sticky Prices in Driving Economic Fluctuations

Carnegie-Rochester Conference Series on Public Policy
A sticky-price manifesto
Laurence Ball, N. Gregory Mankiw

Paper Summary

The article argues that short-term economic ups and downs can be best understood by looking at how prices of goods and services don't change quickly. This idea is supported by research on why prices might stay the same for a while.

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