Working Less and Bargain Hunting More: Macroimplications of Sales during Japan's Lost Decades
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چکیده
منابع مشابه
Working Less and Bargain Hunting More: Macro Implications of Sales during Japan's Lost Decades
Abstract Standard New Keynesian models have often neglected temporary sales. In this paper, we ask whether this treatment is appropriate. In the empirical part of the paper, we provide evidence using Japanese scanner data covering the last two decades that the frequency of sales was closely related with macroeconomic developments. Specifically, we find that the frequency of sales and hours work...
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ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 2018
ISSN: 0022-2879
DOI: 10.1111/jmcb.12467