New working paper!
What if shopping time is the missing NK friction?
➡️ Euler slope up to 10× flatter (policy less powerful)
➡️ Phillips curve 12% steeper
➡️ Search shocks = microfounded cost-push
Full paper: https://t.co/rAsDQeIsg3
#econtwitter
The 4th edition of the GIFT Conference is coming, and it promises to be a great one! Please consider applying. Full call for papers is available at https://t.co/ngz97slWIy.