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Cited by 890

The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.

A Near-Rational Model of the Business Cycle, with Wage and Price Inertia

Akerlof, G. A., Yellen, J. L.·1985·The Quarterly Journal of Economics
DOI 10.1093/qje/100.supplement.823
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Abstract

This paper presents a model in which insignificantly suboptimal behavior causes aggregate demand shocks to have significant real effects. The individual loss to agents with inertial price-wage behavior is second-order in terms of the parameter describing the shock, while the effect on real economic variables is first-order. Thus, significant changes in business activity can be generated by anticipated money supply changes provided that some agents are willing to engage in nonmaximizing behavior which results in small losses.

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Metadata

Authors
Akerlof, G. A., & Yellen, J. L.
Venue
The Quarterly Journal of Economics
Publisher
Oxford University Press (OUP)
Published
1985-01-01
Volume
100
Issue
Supplement
Pages
823-838
ISSN
  • 0033-5533 (ISSN-L)
  • 1531-4650
DOI
10.1093/qje/100.supplement.823
OpenAlex
W2027059017
Cited by
890
References
4
FWCI
52.98
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: A Near-Rational Model of the Business Cycle, with Wage and Price Inertia. https://app.cochat.ai/papers/10.1093/qje/100.supplement.823
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Akerlof, G. A., & Yellen, J. L. (1985). A Near-Rational Model of the Business Cycle, with Wage and Price Inertia. The Quarterly Journal of Economics. https://doi.org/10.1093/qje/100.supplement.823

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.