Staggered Price Setting with Endogenous Frequency of Adjustment

The classic models of staggered adjustment of Taylor and Blanchard takes the frequency of price or wage adjustment as exogenous. This paper develops a model in which the frequency of price changes in endogenous. It then uses the model to analyze the effects of changes in the parameters of the economy on the frequency of adjustment and the real effects of monetary shocks.

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Year of publication:	1989-10
Authors:	Romer, David
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	EFG published as Economics Letters, Vol. 32, pp. 205-210, March 1990. Number 3134
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005088965