| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1024 |
| DP1024 The Europe Agreements: Implications for Trade Laws and Institutions. Lessons from Hungary | |
| André Sapir | |
| 发表日期 | 1994-09-30 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | The paper shows how prolonged price inertia can arise in a macroeconomic system in which there are temporary price rigidities as well as production lags in the use of intermediate goods. In this context, changes in product demand -- generated, say, by changes in the money supply -- have long-lasting price and quantity effects. Specifically, a temporary demand shift generates `persistence' in price-quantity decisions, in the sense that the price-quantity effects of this shift persist for long after the shift has disappeared. A permanent demand shift generates `sluggishness' in price-quantity decisions, in the sense that the full price effects of the shift take a long time to appear and that meanwhile quantity effects are present. |
| 关键词 | New keynesian economics Price inertia Price rigidities Production lags |
| URL | https://cepr.org/publications/dp1024 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530164 |
| 推荐引用方式 GB/T 7714 | André Sapir. DP1024 The Europe Agreements: Implications for Trade Laws and Institutions. Lessons from Hungary. 1994. |
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