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- W3151112222 abstract "The paper examines a new possibility of output gaps in an economy without any rigidity. The driving force behind the new possibility is non-cooperative behavior of consumers. The paper shows that there is a possibility that when a fundamental shock hits an economy this non- cooperative nature makes consumers deviate form the optimal path of the representative consumer, and thus agents do not jump consumption and proceed on the deviated transition path." @default.
- W3151112222 created "2021-04-13" @default.
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- W3151112222 date "2004-04-24" @default.
- W3151112222 modified "2023-09-27" @default.
- W3151112222 title "A Possibility of Protracted Output Gaps in an Economy without Any Rigidity" @default.
- W3151112222 hasPublicationYear "2004" @default.
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