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.
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页码：95 / 100
页数：6
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