Wang, Peng-fei (contributor); Wen, Yi (contributor) - 2005
"Price rigidity is the key mechanism for propagating business cycles in traditional Keynesian theory. Yet the New … propagating business cycles in traditional Keynesian
theory. Yet the New Keynesian literature has failed to show that sticky … are the key mechanism assumed in traditional Keynesian theory for propagating the
impact of monetary shocks as well as …