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• W3121293400 abstract "We present a model embodying moderate amounts of nominal rigidities that accounts for the observed inertia in inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts that have an average duration of three quarters and variable capital utilization." @default.
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• W3121293400 date "2005-02-01" @default.
• W3121293400 modified "2023-10-14" @default.
• W3121293400 title "Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy" @default.
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• W3121293400 doi "https://doi.org/10.1086/426038" @default.
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