ENDOGENOUS GROWTH, PRICE STABILITY AND MARKET DISEQUILIBRIA
نویسندگان
چکیده
منابع مشابه
Price Stability and Endogenous Productivity
I present a model, where firms’ markups are endogenous and are a function of the level of price stability in an economy. Because price signals are noisier in periods of unstable inflation, firms’ market power is higher in such periods. By raising their profits, this permits the survival of low productivity firms, thereby reducing aggregate productivity. By contrast, in periods of price stabilit...
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ژورنال
عنوان ژورنال: Metroeconomica
سال: 2010
ISSN: 0026-1386,1467-999X
DOI: 10.1111/j.1467-999x.2009.04063.x