jäykkyystaloudellisuus

Jäykkyystaloudellisuus, often translated as "rigidity economics" or "stickiness economics," refers to a phenomenon in economics where certain prices, wages, or other economic variables adjust slowly or incompletely in response to changes in underlying economic conditions. This inflexibility, or "stickiness," can lead to inefficiencies and prolonged periods of imbalance in the economy.

The concept is closely related to the idea of nominal rigidities, where the monetary units in which prices are denominated prevent immediate adjustments. For example, if a firm's product demand falls, it might be reluctant to immediately lower its prices due to menu costs (the costs associated with changing prices) or the perceived negative signal of a price cut. Similarly, wages can be sticky downwards due to contracts, social norms, or the costs associated with employee turnover.

Jäykkyystaloudellisuus has significant implications for macroeconomic policy. For instance, in the presence of sticky prices, monetary policy might be more effective in influencing output and employment in the short run, as a change in the money supply can lead to a change in real prices and thus influence demand. However, in the long run, prices are expected to adjust, and the economy would tend towards its natural rate of output. Understanding the extent and nature of these rigidities is crucial for policymakers aiming to stabilize the economy and promote efficient resource allocation.