kaal:claim:6421319-027

The Calvo pricing frictions and persistence parameters that dominate modern DSGE models become unnecessary when contracts and prices adjust continuously rather than in staggered human time.

Source quote, verbatim
The Calvo pricing frictions and persistence parameters that dominate modern DSGE models become unnecessary when contracts and prices adjust continuously rather than in staggered human time.
From

Wulf A. Kaal, The Collapse of Scarcity Economics (2026), VI.B. Arrow-Debreu Completeness as Operational Reality, p. 24
https://ssrn.com/abstract=6421319 · source PDF

Cite as

Wulf A. Kaal, The Collapse of Scarcity Economics (2026). SSRN: https://ssrn.com/abstract=6421319

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failuresupport: arguedfailure: DSGE Friction Obsolescencefamily: research-design-limitationeconomics

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