This paper develops a model of a monetary economy in which individual firms are subject to idiosyncratic productivity shocks as well as general inflation. Sellers can change price only by incurring a real “menu cost.” We calibrate this cost and the variance and autocorrelation of the idiosyncratic shock using a new U.S. data set of individual prices due to Klenow and Kryvtsov. The prediction of...

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fauna [3]). Some might suggest that the island home of every member of the relevant trans-Atlantic clade (Hispaniola, Fuerteventura, Mallorca, Menorca, Elba) would actually imply that this lineage was an active and successful disperser at times, instead of being only a passive passenger on tectonic plates. Rather than providing a definitive answer, our results and conclusions highlight the diff...

SERVICE DISCOVERY has become increasingly important in the construction of scalable, elastic, and always-on distributed systems. In this interview, James Phillips, who works on the open source service discovery tool Consul at HashiCorp, explains what service discovery is, provides use cases, and discusses available tools. You can listen to the entire interview at www.se-radio .net. Portions of ...

The subject of this paper is the estimation of the Phillips curve in Thailand. The aim of the estimation is to ...t the Phillips curve as part of a small-scale, log-linearised structural model for the country, which is suitable to form the basis for a future simulation exercise to ...nd an optimum monetary policy rule. A linear form of the Phillips curve is estimated using ordinary least square...