Cost of Sticky Prices under Multiple Stages of Production
研究了使用中间产品时粘性价格的成本，发现生产结构越深，成本越高；忽略中间投入的单部门模型会低估非零趋势通胀的成本。
Abstract This study analyzes the cost of sticky prices when intermediate goods are used in production. One major result is that the cost of sticky prices increases as the production structure deepens. A simple one‐sector model without intermediate inputs underestimates the cost of nonzero trend inflation.