Aggregate Pattern of Time-dependent Adjustment Rules, II: Strategic Complementarity and Endogenous Nonsynchronization

S.H. Paul Lau

Working Papers from Australian National University - Department of Economics

Abstract: This paper provides an explanation for an important institutional feature of staggered time-dependent adjustment rules assumed in a number of macroeconomic models (Fischer, 1977; taylor, 1980; Blanchard, 1986).

Keywords: DECISION MAKING; PRICES; WAGES; ECONOMIC MODELS (search for similar items in EconPapers)
JEL-codes: E30 L16 (search for similar items in EconPapers)
Pages: 31 pages
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aunaec:317

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