Several macroeconomic models of business cycles rely on the assumption that …rms adjust prices infrequently to generate the short-run non-neutrality of money documented by the literature on monetary transmission. These models posit di¤erent mechanisms to generate price stickiness, with correspondingly di¤erent implications for in‡ation dynamics. While empirical implications regarding the respon...

We provide a simple model of sticky nominal debt contracts and fixed rate debt that can easily be embedded in a dynamic general equilibrium framework. Once linearised, the debt process increases the order of autoregressive dynamics in the system by one; thus potentially introducing more complex adjustment processes. Keywords: nominal debt; dynamic general equilibrium. JEL Classifications: E30, ...

In the presence of firm-specific capital the Taylor principle can generate multiple equilibria. Sveen and Weinke (2005b) obtain that result in the context of a Calvo-style sticky price model. One potential criticism is that the price stickiness which is needed for our theoretical result to be relevant from a practical point of view is somewhat to the high part of available empirical estimates. ...

For the purposes of this report, adhesiveness was defined as that force which resists the mechanical separation of attached pairs of cells, and stickiness as the tendency of cells to cling to a foreign substrate; in the present experiments the substrate employed was glass. The cells selected for study were from the normal rabbit epiderm and the V2 rabbit carcinoma. Adhesiveness was determined b...

This paper develops a view of exchange rate policy as a trade-off between the desire to smooth fluctuations in real exchange rates so as to reduce distortions in consumption allocations, and the need to allow flexibility in the nominal exchange rate so as to facilitate terms of trade adjustment. We show that optimal nominal exchange rate volatility will reflect these competing objectives. The k...

As a representative of the sharing economy business model, TikTok, short-form mobile video-sharing social networking platform, has numerous consumers worldwide. Based on background development information technology and value co-creation theory, this paper analyzes relevance between communication economy; studies internal mechanism consumer participation behaviors stickiness under different emo...