NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Staggered Price Setting with Endogenous Frequency of Adjustment

David Romer

NBER Working Paper No. 3134
Issued in October 1989
NBER Program(s):   EFG

The classic models of staggered adjustment of Taylor and Blanchard takes the frequency of price or wage adjustment as exogenous. This paper develops a model in which the frequency of price changes in endogenous. It then uses the model to analyze the effects of changes in the parameters of the economy on the frequency of adjustment and the real effects of monetary shocks.

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Document Object Identifier (DOI): 10.3386/w3134

Published: Economics Letters, Vol. 32, pp. 205-210, March 1990. citation courtesy of

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