Calvo (staggered) contracts
id:
calvo-staggered-contracts-292-127393
title:
Calvo (staggered) contracts
text:
A Calvo contract is the name given in macroeconomics to the pricing model that when a firm sets a nominal price there is a constant probability that a firm might be able to reset its price which is independent of the time since the price was last reset. The model was first put forward by Guillermo Calvo in his 1983 article "Staggered Prices in a Utility-Maximizing Framework". The original article was written in a continuous time mathematical framework, but nowadays is mostly used in its discrete
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encyclopedia
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original url:
https://en.wikipedia.org/wiki/Calvo_(staggered)_contracts
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date modified:
2024-04-24T08:17:42Z
main entity:
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13
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