Nominal rigidity

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Notion

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Science and technology

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What Wikipedia says

In economics, nominal rigidity, also referred to as price stickiness or wage stickiness, describes a situation in which a nominal price is slow to adjust or resistant to change. Complete nominal rigidity occurs when a price remains fixed in nominal terms for a relevant period of time.

Excerpt from the Wikipedia article “Nominal rigidity”, under the CC BY-SA 4.0 license. Read the article on Wikipedia