Keynesian dynamics and the wage-price spiral: a baseline disequilibrium model

Louisiana State Univ Press
Publication Type:
Journal Article
Journal of Macroeconomics, 2006, 28 (1), pp. 90 - 130
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We reformulate the traditional AS-AD growth model of the Neoclassical synthesis, stage 1, as a disequilibrium approach to aggregate supply analysis. with sticky wages. sticky prices. myopic perfect foresight oil current inflation rates. and adaptively fo
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