Construct · 1 fields · 1 citations

real rigidity: a standalone construct

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Macroeconomics

insensitivity of firms' desired relative prices or wages to aggregate output, which magnifies the nonneutrality caused by small nominal frictions.

In macroeconomics, real rigidity refers to insensitivity of firms' desired relative prices or wages to aggregate output, which magnifies the nonneutrality caused by small nominal frictions. This meaning comes from Ball (1990) in The Review of Economic Studies.[1]

Unit
Recovery means
Measured by

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Nearby constructs

aggregate3 fields · 6 citationsjingle · one word, three constructs nominal2 fields · 2 citationsjingle · one word, two constructs rigidity3 fields · 6 citationsjingle · one word, three constructs

References

Ball, L., & Romer, D. (1990). Real Rigidities and the Non-Neutrality of Money. The Review of Economic Studies, 57(2), 183. https://doi.org/10.2307/2297377

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