| NOUN | price stickiness | - |
NOUN article.ind sg | pl
21 Übersetzungen
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Anwendungsbeispiele Englisch
- In 1985 George Akerlof (1940–) and Janet Yellen (1946–) published menu costs arguments showing that, under imperfect competition, small deviations from rationality generate significant (in welfare terms) price stickiness.
- Wage and price stickiness, and the other market failures present in New Keynesian models, imply that the economy may fail to attain full employment.
- The new Keynesian explanation of price stickiness relied on introducing imperfect competition with price (and wage) setting agents.
- In 1977, Fischer wrote the paper "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule" where he combined the idea of rational expectations argued by New classical economists like Robert Lucas with the idea that price stickiness still led to some degree of market shortcomings that an active monetary policy could help mitigate in times of economic downturns.
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