Involuntary unemployment: The elusive quest for a theory
In: European Journal of Political Economy, Band 21, Heft 4, S. 1101-1103
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In: European Journal of Political Economy, Band 21, Heft 4, S. 1101-1103
In: The economic journal: the journal of the Royal Economic Society, Band 112, Heft 479, S. 384-401
ISSN: 1468-0297
In: CEBI Working Paper 10/22
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In: CESifo Working Paper Series No. 2538
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In: Economica, Band 69, Heft 275, S. 433-444
ISSN: 1468-0335
This paper analyses the impact of inflation when firms face frictions in both price and quantity adjustments. A vast literature examines the consequences of price‐adjustment costs assuming frictionless quantity adjustments. However, temporary quantity adjustments may be expensive, for example because continual adjustments of the optimal production plant are impossible. Moreover, recent findings suggest that frictions in quantity adjustment may remove the linkage between output and inflation. In this paper we show that this is not the case when inflation is anticipated. On the contrary, a predetermined production capacity may significantly amplify the consequences of price adjustment costs.
In: Economica, Band 84, Heft 335, S. 417-429
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In: CEPR Discussion Paper No. DP12379
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In: CEPR Discussion Paper No. DP9772
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In: NBER Working Paper No. w15218
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In: CEBI WORKING PAPER SERIES, Working Paper 04/21
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In: NBER Working Paper No. w28099
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In: The economic journal: the journal of the Royal Economic Society, Band 128, Heft 612, S. F514-F544
ISSN: 1468-0297
In: The Economic Journal, Band 128, Heft 612, S. F514-F544
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In: CEPR Discussion Paper No. DP12539
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