@techreport{NBERw1960,
 title = "Price Contracts, Output, and Monetary Disturbances",
 author = "Alan C. Stockman",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "1960",
 year = "1986",
 month = "June",
 URL = "http://www.nber.org/papers/w1960",
 abstract = {This paper presents a simp1e example in which incomplete asset markets create
incentives for buyers and sellers to sign contracts that specify a price
function which differs from the spot market equilibrium price function. The
price function can exhibit downward stickiness in nominal prices, In the
sense that a fall in the money supply reduces nominal prices less than
proportionately and reduces real output. This equilibrium dominates spot
market equilibrium in terms of expected utility.},
}