A striking fact about prices is the prevalence of "sales": large temporary price cuts followed by a return exactly to … the former price. This paper builds a macroeconomic model with a rationale for sales based on firms facing consumers with … different price sensitivities. Even if firms can vary sales without cost, monetary policy has large real effects owing to sales …

the monopolist’s pricing strategy. Compared to lower possible purchase prices, paying a higher price in the firm’s pricing … has high density, the price responsiveness of demand is low, or consumers are likely to purchase. Whether or not prices … unchanging cost offers random ‘sales’ to increase customers’ expectation to consume, attracting more demand at high prices. …

size then costs more per unit than the small one. When quantity surcharges occur the sales of the large size decrease only …

based on Yeaple’s complex FDI concept. In its simplest form, horizontal-ness is measured as affiliates’ local sales share … in the EU and Asia. Affiliates became more vertical between 1996 and 2005. A four-way sales and sourcing split (host …

This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple … model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets … their beliefs following a new demand shock, the younger they are. To test this learning mechanism, we make use of a specific …

correlated learning may render it optimal to enter markets sequentially – an investment in market A is only followed by entry in …, we identify correlated learning across markets beyond alternative explanations as a key driver of gradualism in the …

Many new exporters give up exporting very shortly, despite substantial entry costs; others shoot up foreign sales and …

, leverage, and asset prices larger than predicted under either rational expectations without learning or with learning but …