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• W1761495936 abstract "An increasing literature has been concerned that the dynamics of the economy keeps switching and that, in particular, it is important to allow time variation in the degree of Calvo stickiness. We investigate this with a Markov-switching Dynamic Stochastic General Equilibrium model and show that there is little gain when allowing for such time variation. As a result we recommend to use a constant Calvo stickiness parameter, even when allowing for regime shifts elsewhere." @default.
• W1761495936 created "2016-06-24" @default.
• W1761495936 creator A5024239623 @default.
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• W1761495936 date "2015-08-01" @default.
• W1761495936 modified "2023-10-18" @default.
• W1761495936 title "On the stability of Calvo-style price-setting behavior" @default.
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• W1761495936 doi "https://doi.org/10.1016/j.jedc.2015.05.002" @default.
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