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A Model of Rule-of-Thumb Consumers With Nominal Price and Wage Rigidities

Sergio
Ocampo-Díaz
Martes, 1 Mayo 2012

This document presents a dynamic stochastic general equilibrium model with rule of thumb (Non-Ricardian) agents and both nominal price and wage rigidities. The model follows closely that of Galí et al. (2004) and expands it to include a second way form of