Published Classic American Economic Journal: Macroeconomics Published Jan 2009New Keynesian Models: Not Yet Useful for Policy AnalysisV. V. Chari · Patrick J. Kehoe · Ellen R. McGrattanThis 2009 American Economic Journal: Macroeconomics paper by V. V.
Published Classic Econometrica Published Sep 2000Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?V. V. Chari · Patrick J. Kehoe · Ellen R. McGrattanStaggered price-setting was long hoped to turn a short spell of exogenous price stickiness into a long spell of endogenous stickiness, and so into persistent output movements after a monetary shock. …