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They do not see nominal rigidities as an explanation for the failure of markets to clear.
Other topics include imperfect competition in macroeconomics, nominal rigidity.
Covers both real and nominal rigidities defined by upper and/or lower bounds on individual prices.
Sticky information models do not have nominal rigidity: firms or unions are free to choose different prices or wages for each period.
'Nominal rigidities', that is, sticky prices and wages, are a central aspect of all New Keynesian models.
Real rigidity and nominal rigidity, the resistance of prices and wages to marketchanges in macroeconomics.
New classical economics contributed the methodology behind real business cycle theory and new Keynesian economics contributed nominal rigidities (slow moving and periodic, rather than continuous, price changes also called sticky prices).
Real rigidities can be distinguished from nominal rigidities, rigidities that do not adjust because prices can be sticky and fail to change value even as the underlying factors that determine prices fluctuate.
From the new classical school, it adapted RBC hypotheses, including rational expectations, and methods; from the new Keynesian school, it took nominal rigidities (price stickiness) and other market imperfections.
Wörterbuch für Wirtschaftswissenschaft