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In the asymmetric cost behavior model, managers play an active role in determining cost behavior by adding or removing resources as activity changes. Cost stick
The Cost Stickiness Phenomenon
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Understanding cost behavior is a fundamental element of cost accounting and the management of a firm. Deviating from the traditional assumption of symmetric cos
The Cost of Nominal Inertia in NNS Models
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We calculate the welfare cost of nominal inertia in a New Neoclassical Synthesis model with wage and price stickiness, capital formation, and empirically estima
Imperfect Competition and Sticky Prices
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These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keyne
Theory of Macroeconomic Policy
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Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic t