Dynamics of the Price Distribution in a General Model of State-Dependent Pricing

An increase in aggregate productivity raises consumption but causes labor to fall. Also, impulse responses differ depending on the distribution at the time the shock occurs. In particular, increased money growth has different effects starting from the steady state distribution than it does if all firms have recently received an economy-wide productivity shock.

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Year of publication:	2009
Authors:	Nakov, Anton ; Costain, James
Institutions:	Society for Economic Dynamics - SED

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Extent:	application/pdf
Series:	2009 Meeting Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2009 SED Meeting Papers Number 611
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011080438