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The Impact of Price Adjustment Costs on Price Dispersion in E-Commerce
Böheim, René - 2019
We analyze price dispersion using panel data from a large price comparison site. We use past pricing behavior to instrument for potential endogeneity that might result from the selection of firms to certain product markets. We find that greater price adjustment costs result in greater price...
Persistent link: https://www.econbiz.de/10012892080
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Downward nominal wage rigidity in the OECD
Holden, Steinar; Wulfsberg, Fredrik - 2007
Recent micro studies have documented extensive downward nominal wage rigidity (DNWR) for job stayers in many OECD countries, but the effect on aggregate variables remains disputed. Using data for hourly nominal wages, we explore the existence of DNWR on wages at the industry level in 19 OECD...
Persistent link: https://www.econbiz.de/10010264139
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Cyclical fiscal policy, output volatility, and economic growth
Badinger, Harald - 2008
This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...
Persistent link: https://www.econbiz.de/10010264336
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Will stability last?
Martin, William; Rowthorn, Robert - 2004
There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic stability has been fostered by improved monetary policy and by...
Persistent link: https://www.econbiz.de/10010261075
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Monetary Policy, Price Setting, and Credit Constraints
Balleer, Almut - 2019
We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. We find a strong degree of monetary non-neutrality. After expansionary monetary policy, the mass of additional price adjustments is economically small and...
Persistent link: https://www.econbiz.de/10012857905
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The Relationship between Prices and Output in the UK and the US
Caporale, Guglielmo Maria; Claudio-Quiroga, Gloria; … - 2021
find that the only significant relationship implies the existence of a lagged effect of prices on output in the case of the …
Persistent link: https://www.econbiz.de/10013235154
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COVID-Induced School Closures in the US and Germany : Long-Term Distributional Effects
Fuchs-Schündeln, Nicola - 2022
Almost all countries worldwide closed schools at the outbreak of the Covid-19 crisis. I document that schooling time dropped on average by -55% in the US and -45% in Germany from the onset of the crisis to the summer of 2021. In the US, schools were closed longer in richer than in poorer areas,...
Persistent link: https://www.econbiz.de/10013291960
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Modelling Persistence and Non-Linearities in the US Treasury 10-Year Bond Yields
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; Yaya, … - 2022
This paper analyses persistence and non-linearities in quarterly and monthly US Treasury 10-year bond yields over the period 1962-2021 using two different fractional integration approaches including Chebyshev polynomials and Fourier functions respectively. The results for both quarterly and...
Persistent link: https://www.econbiz.de/10013306037
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Vehicle Currency Pricing and Exchange Rate Pass-Through
Chen, Natalie - 2019
the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find … that for transactions invoiced in a vehicle currency, import prices are much more sensitive to changes in the vehicle … currencies. Our results help to explain the higher-than-expected pass-through into import prices during the Great Recession and …
Persistent link: https://www.econbiz.de/10012867016
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Sales and Markup Dispersion : Theory and Empirics
Mrazova, Monika - 2019
We derive exact conditions relating the distributions of firm productivity, sales, output, and markups to the form of demand in monopolistic competition. Applications include a new “CREMR” demand function (Constant Revenue Elasticity of Marginal Revenue): it is necessary and sufficient for...
Persistent link: https://www.econbiz.de/10012892151