The Cost of Nominal Rigidity in NNS Models

We present a model with Calvo wage and price setting, capital formation, and estimated rules for government spending and monetary policy. Our model captures many aspects of U.S. data, including the volatility that has been observed in various efficiency gaps. We estimate the cost of nominal rigidity...

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Bibliographic details
Volume: 39
Main Author: CANZONERI, MATTHEW B
CUMBY, ROBERT E
DIBA, BEHZAD T
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: Malden, USA Blackwell Publishing Inc 01.10.2007
Blackwell Publishing
WILEY
Wiley Periodicals, Inc
John Wiley & Sons, Inc
published in: Journal of money, credit and banking Vol. 39; no. 7; pp. 1563 - 1586
Edition: Received May 23, 2005; and accepted in revised form October 30, 2006.
Data of publication: 2007-10
ISSN: 0022-2879
1538-4616
EISSN: 1538-4616
Discipline: Economics
Business
Bibliography: We would like to thank (without implicating) Gary Anderson, Harris Dellas, Martin Eichenbaum, Luca Guerrieri, Christopher Gust, Dale Henderson, Peter Ireland, Michel Juillard, Jinill Kim, Eric Leeper, Andrew Levin, David Lopez‐Salido, Eric Swanson, and Martin Uribe for helpful discussions. We also thank seminar participants at Bonn University, Boston College, the European Monetary Forum, the European Central Bank, the Bank of England, and the Federal Reserve Board. Two anonymous referees and the editor made helpful comments on an earlier draft.
Subjects:
E32
E52
Online Access: Fulltext
Database: Istex
Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2007
CrossRef
Database information Databases - DBIS