Year: 1995
Type: article
Abstract: The author proposes that sluggish price adjustment is necessary for monetary policy to have real effects. His purpose is to provide microeconomic foundations for price setting and the gradual adjustment of prices to new information.
Author: Allan H. Meltzer
Institution: Carnegie Mellon University
Language: English
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W1481090108