Menu costs and the long-run output-inflation trade-off

被引：32

作者：

Devereux, MB

Yetman, J

机构：

[1] Univ Hong Kong, Sch Econ & Finance, Hong Kong, Hong Kong, Peoples R China

[2] Univ British Columbia, Vancouver, BC V6T 1Z2, Canada

来源：

ECONOMICS LETTERS | 2002年 / 76卷 / 01期

关键词：

menu costs; Phillips curve;

D O I：

10.1016/S0165-1765(02)00022-8

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In standard, New Keynesian models, there exists an unlimited long-run trade-off between output and inflation. But when we allow for an endogenous frequency of price adjustment, this is replaced by an inverted U-shaped relationship. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：95 / 100

页数：6