Sticky price models of the business cycle: Can the contract multiplier solve the persistence problem?

Chari, VV; Kehoe, PJ; McGrattan, ER; (2000) Sticky price models of the business cycle: Can the contract multiplier solve the persistence problem? Econometrica , 68 (5) pp. 1151-1179. 10.1111/1468-0262.00154 . Green open access

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