巴罗 宏观经济学现代观点 第16章.pptVIP

Macroeconomics Chapter 16 The New Keynesian Model 2 Extensions: Imperfect competition: the typical producer actively sets its price. Sticky prices: nominal goods prices that do not react rapidly to changed circumstances. menu cost Journal price The New Keynesian Model Price Setting Under Imperfect Competition Let P( j ) be the price charged for a good by firm j. the quantity demanded of firm j ’s goods is q( j ) The New Keynesian Model Price Setting Under Imperfect Competition Typically, q(j) depends on relative price P( j )/P and the income of c