| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5546 |
| DP5546 Disability Testing and Retirement | |
| Pierre Pestieau; Helmuth Cremer; Jean-Marie Lozachmeur | |
| 发表日期 | 2006-03-12 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | The aim of the present paper is to analyze the link between price rigidity and indeterminacy. This is done within a cash-in-advance economy from which we know that it exhibits indeterminacy at high degrees of relative risk aversion. I find that price stickiness reduces the scope of these sunspot equilibria: sluggish price adjustment requires degrees of relative risk aversion compatible with indeterminacy that prove too high to square with data. |
| 主题 | International Macroeconomics |
| 关键词 | Cash-in-advance economies Sunspot equilibria Calvo-pricing |
| URL | https://cepr.org/publications/dp5546 |
| 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/534391 |
| 推荐引用方式 GB/T 7714 | Pierre Pestieau,Helmuth Cremer,Jean-Marie Lozachmeur. DP5546 Disability Testing and Retirement. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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