marginal cost schedule, aggregate output can vary if and only if the markup of price over marginal cost varies. In this review …

We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective …

run and supply shocks dominate in the long run can explain the empirical results, while standard sticky-price models with …

there is evidence of positive 'short-run' correlations for some countries it is not very robust to the choice of the price …

This study explores empirically the price dynamics within two distinct market institutions - a double oral auction …

From 1836 to 2011, the average real rate of price change for gold in the United States is 1.1% per year and the … gold's real rate of price change with consumption and GDP growth rates are small and statistically insignificantly … between gold services and ordinary consumption, the model can generate a mean real rate of price change within the (0.1%, 2 …

Blomquist and Christensen (2005) argue that welfare is initially decreasing in the price of an excludable public good … and that the case for a positive price for an excludable public good price is weak. We argue that this result follows from … overturns their result. Hence the policy case for a positive price on the public good is stronger than Blomquist and …

. Second, we propose and illustrate an alternative, preference based, method for estimating consumer responses to price changes … under these conditions. Our preference based approach yields price elasticities on the order of 0.4 and a quot …;utilities expenditurequot; elasticity of near unity. This research highlights the possibility that households may be more sensitive to price …

three independent components: idiosyncratic relative-price changes, a low-dimensional index of aggregate relative-price … price changes to fundamental economic shocks. We use the estimates of the pure inflation and aggregate relative-price … are they related to conventional measures of monetary policy and relative-price shocks? We find that pure inflation …