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| Topic: |
Business
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| Number of pages / Number of words: |
69 / 19190 |
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For example, Mankiw
and Reis (2002) emphasize the conceptual importance of
managerial decision costs for producing a more plausible
Phillips curve relation. In fact, Ball and Mankiw (1994, p.
142) “. . . suspect that the most important costs of price
adjustment are the time and attention required of managers
to gather the relevant information and to make and implement
decisions...
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In fact, Ball and Mankiw (1994, p.
142) “. . . suspect that the most important costs of price
adjustment are the time and attention required of managers
to gather the relevant information and to make and implement
decisions.†Similarly, Blinder et al. (1998, pp. 313–314) conclude
that firms “...
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