State-Dependent Pricing, Firm Entry and Exit, and Non-Neutrality of Money

Koki Oikawa and Kozo Ueda

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: Money is not neutral if firm entry and exit are incorporated into a menu cost model. The real effect of money increases as a firm entry and exit rate increases, and the key is non-uniform firm distribution.

Keywords: (non-)uniform distribution; menu cost (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2015-01
New Economics Papers: this item is included in nep-bec and nep-mac
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2015-03

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