Friction Là Gì

the force that makes it difficult for one object to slide along the surface of another or to move through a liquid or gas:

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the force that works against an object as it slides along the surface of another object or moves through a liquid or gas:
While funds are free to rebalance their investments as asset prices change, there are the frictions of transactions costs and inertia.
If trade frictions are low, conducting trade in the unorganized sector is so attractive that it may not generate sufficient profits for the intermediation business.
If trade frictions are moderate, bills circulate as a general medium of exchange, and the level of specialization is higher relative to barter.
In the latter, indeterminacy significantly relied on scale economies, whereas here it almost exclusively rests on frictions in financial market.
When trade frictions are low, conducting trade in the unorganized sector is so attractive that it may not generate sufficient profits for the intermediation business.
The amount of nominal volatility, however, is shown to vary with asset market frictions and with government policy.

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The nominal frictions in terms of the degrees of price and wage stickiness are somewhat smaller in the open-economy model.
No policy implements this allocation in the decentralized economy with relocation and information frictions.
Moreover, the severity of financial market frictions is itself endogenous in the models we describe.
However, if the rate of inflation is increased excessively, real returns will be driven down to the point where credit market frictions become binding.
Singularities appear in the higher-order approximate solutions to the viscous displacement velocities and skin frictions, which coincide with the singularity of the first-order approximate solution.
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