Output and inflation in a flexprice-fixprice economy
Hämäläinen, Timo (15.04.1979)
JulkaisusarjaKeskustelualoitteita. Discussion Papers
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-202107301365
The purpose of this essay is to explain inflation and output using a disaggregated model in which both classical or Marshallian price adjustment and Keynesian price rigidity are present in the goods market. The model can also be used in an open economy context employing the distinction between traded and non-traded goods.