Ravenna, Federico; Walsh, Carl E. - Federal Reserve Bank of San Francisco - 2009
We explore the distortions in business cycle models arising from inefficiencies in price setting and in the search … Carl E. Walsh
∗
April 2009
Abstract
We explore the distortions in business cycle models arising from inefficiencies in
price … stability are larger in economies
with more volatile labor flows, as in the U.S.
JEL: E52, E58, J64
∗
Department of Economics …