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Browsing Working Papers by Subject "deep habits"
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Title:Deep Habits and the Dynamic Effects of Monetary Policy Shocks
Author(s):RAVN, Morten O.; SCHMITT-GROHE, Stephanie; URIBE, Martin; UUSKULA, LennoDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:This paper introduces deep habits into a sticky-price sticky-wage economy and asks whether the countercyclical markup movements induced by deep habits is helpful for accounting for the dynamic effects of monetary policy ...