Output and inflation in a flexprice-fixprice economy
Hämäläinen, Timo (15.04.1979)
Numero
5/1979Julkaisija
Bank of Finland
1979
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-202107301365Tiivistelmä
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.