Small Frictions in Price-Setting and the Business Cycle
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Lynn A. Pollnow', 'PO_EMAI': None, 'PO_PHON': None}
The purpose of this research is to analyze the macroeconomic                    consequences of small frictions in the setting of prices and wages.             Two types of frictions will be considered: small costs associated with          changing prices and wages and the fact that not all wage and price              changes occur simultaneously, but are staggered over time.  This                research is important because these frictions may provide the                   heretofore missing micro-foundations of the Keynesian model of                  macroeconomic fluctuations.  Specifically, this project will                    investigate the possibility that rigidities in real wages and prices            increase the magnitude of cyclical fluctuations and that the reductions         in average welfare are caused by costs associated with changing nominal         prices.  Further, the relationship between price stickiness and models          of Keynesian coordination failures will be explored.  With regard to            staggered price-setting, the study will investigate the reasons                 why such staggering occurs and what the adverse affects of such                 price setting may entail.
{'FirstName': 'Laurence', 'LastName': 'Ball', 'PI_MID_INIT': 'M', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Laurence M Ball', 'EmailAddress': 'lball@jhu.edu', 'NSF_ID': '000241238', 'StartDate': '10/15/1987', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'National Bureau of Economic Research Inc', 'CityName': 'CAMBRIDGE', 'ZipCode': '021385359', 'PhoneNumber': '6178683900', 'StreetAddress': '1050 MASSACHUSETTS AVE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Massachusetts', 'StateCode': 'MA', 'CONGRESSDISTRICT': '05', 'CONGRESS_DISTRICT_ORG': 'MA05', 'ORG_UEI_NUM': 'GT28BRBA2Q49', 'ORG_LGL_BUS_NAME': 'NATIONAL BUREAU OF ECONOMIC RESEARCH INC', 'ORG_PRNT_UEI_NUM': None}
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8707950.xml'}