Cost of Sticky Prices under Multiple Stages of Production

Toyoichiro Shirota

Journal of Money, Credit and Banking, 2021, vol. 53, issue 5, 1211-1222

Abstract: This study analyzes the cost of sticky prices when intermediate goods are used in production. One major result is that the cost of sticky prices increases as the production structure deepens. A simple one‐sector model without intermediate inputs underestimates the cost of nonzero trend inflation.

Date: 2021
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https://doi.org/10.1111/jmcb.12786

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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:53:y:2021:i:5:p:1211-1222

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