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In this paper, we ask whether a small structural model with sticky prices and wages, embedding various modelling devices designed to increase the degree of strategic complementarity between price-setters, can fit postwar U.S. data.
This paper develops and analyzes a general-equilibrium model with sticky information.
We study the design of monetary policy in an estimated model with sticky prices, search and matching frictions, and staggered nominal wage bargaining.
Using a star-polymer model with sticky hard sphere interactions, it is shown that the characteristics of the micelles mainly depend on the size of the PEO chain.
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Our analysis also reveals that a model with only sticky wages does not perform well according to Watson's criterion [Watson, M.W., 1993. Measures of fit for calibrated models. Journal of Political Economy 101, 1011 1041.].
The paper estimates a small-scale, structural equilibrium model with a sticky-price sector and a subsidized-price sector for a large number of countries using Bayesian methods.
New Keynesian models are intertemporal maximization modified with sticky prices and a few other deviations (such as balance-sheet constraints).
RULES OF THE GAME As paddles evolved from the standard-issue, dimpled-rubber models of the '60s into those with sticky, high-friction surfaces, points rarely lasted more than a few shots and competitive table tennis, believe it or not, suffered a drop in popularity.
New Keynesians adopted rational expectations and built models with microfoundations of sticky prices that suggested recessions could still be explained by demand factors because rigidities stop prices from falling to a market-clearing level, leaving a surplus of goods and labor.
- Zauschneria with sticky wet foliage.
William Blake with sticky boots".
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