The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve
Abstract
This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared with the commonly used sticky-price model, this sticky-information model displays three related properties that are more consistent with accepted views about the effects of monetary policy. First, disinflations are always contractionary (although annoimced disinflations are less contractionary than surprise ones). Second, monetary policy shocks have their maximum impact on inflation with a substantial delay. Third, the change in inflation is positively correlated with the level of economic activity.
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Citations
Cites
Inside the black box: the credit channel of monetary policy transmission
Bernanke, B. S., & Gertler, M. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.27 · Cited by 4,211
Cited by
Psychology and Economics: Evidence from the Field
DellaVigna, S. (2009) · Journal of Economic Literature · doi:10.1257/jel.47.2.315 · Cited by 2,365
Gasoline prices, fuel economy, and the energy paradox
Allcott, H., & Wozny, N. (2014) · Review of Economics and Statistics · doi:10.1162/rest_a_00419 · Cited by 504
Predictable behavior, profits, and attention
Seasholes, M. S., & Wu, G. (2007) · Journal of Empirical Finance · doi:10.1016/j.jempfin.2007.03.002 · Cited by 384
Gennaioli, N., Ma, Y., & Shleifer, A. (2016) · NBER Macroeconomics Annual · doi:10.1086/685965 · Cited by 332
Home Price Expectations and Behaviour: Evidence from a Randomized Information Experiment
Armona, L., Fuster, A., & Zafar, B. (2019) · The Review of Economic Studies · doi:10.1093/restud/rdy038 · Cited by 319
Metadata
- Authors
- Mankiw, N. G., & Reis, R.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 2002-11-01
- Volume
- 117
- Issue
- 4
- Pages
- 1295-1328
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W3125450854
- Cited by
- 2,292
- References
- 1
- FWCI
- 104.87
- Type
- journal article
- Language
- en
- Open access
- closed
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- Mankiw, N. G., & Reis, R. (2002). Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve. The Quarterly Journal of Economics. https://doi.org/10.1162/003355302320935034
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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.
