NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

A Sticky-Price Manifesto

Laurence Ball, N. Gregory Mankiw

NBER Working Paper No. 4677 (Also Reprint No. r1982)
Issued in March 1994
NBER Program(s):   EFG   ME

Macroeconomists are divided on the best way to explain short-run economic fluctuations. This paper presents the case for traditional theories based on short-run price stickiness. It discusses the fundamental basis for believing in this class of macreconomic models. It also discusses recent research on the microeconomic foundations of sticky prices.

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Document Object Identifier (DOI): 10.3386/w4677

Published:

  • Carnegie-Rochester Conference Series on Public Policy, vol. 41, (December 1994), pp. 127-151 ,
  • Research Papers Presented at the 1994 Texas Conference on Monetary Economics, April 23–24, 1994, Federal Reserve Bank of Dallas

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