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Trade Prices and the Global Trade Collapse of 2008-2009

Gopinath, Gita - 2011

We document the behavior of trade prices during the Great Trade Collapse of 2008-2009 using transaction-level data from the U.S. Bureau of Labor Statistics. First, we find that differentiated manufactures exhibited marked stability in their trade prices during the large decline in their trade...

Persistent link: https://www.econbiz.de/10012461064

Economic Factors Underlying the Unbundling of Advertising Agency Services

Arzaghi, Mohammad - 2008

This paper addresses a longstanding puzzle involving the unbundling of services that has occurred over more than two … decades in the U.S. advertising agency industry: How can the shift from the bundling to the unbundling of services be … Salinger (2005, 2008), we develop a simple model of an advertising agency's decision to unbundle its services as a tradeoff …

Persistent link: https://www.econbiz.de/10012464302

Pricing to Market, Staggered Contracts, and Real Exchange Rate Persistence

Bergin, Paul R. - 1999

This paper offers an explanation for the persistence observed in real exchange rate movements. The model combines pricing to market behavior with sticky prices generated by staggered contracts. A translog preference structure is sued to enhance both features. The paper finds that openness limits...

Persistent link: https://www.econbiz.de/10012471774

Pricing and Reimbursement in U.S. Pharmaceutical Markets

Berndt, Ernst R. - 2010

In this survey chapter on pricing and reimbursement in U.S. pharmaceutical markets, we first provide background information on important federal legislation, institutional details regarding distribution channel logistics, definitions of alternative price measures, related historical...

Persistent link: https://www.econbiz.de/10012462361

In Search of Real Rigidities

Gopinath, Gita - 2010

The closed and open economy literatures work on evaluating the role of real rigidities, but in parallel. This paper brings the two literatures together. We use international price data and exchange rate shocks to evaluate the importance of real rigidities in price setting. We show that...

Persistent link: https://www.econbiz.de/10012462590

Globalization, Markups and U.S. Welfare

Feenstra, Robert C. - 2010

This paper is the first attempt to structurally estimate the impact of globalization on markups, and the effect of changing markups on welfare, in a monopolistic competition model. To achieve this, we work with a class of preferences that allow for endogenous markups and firm entry and exit that...

Persistent link: https://www.econbiz.de/10012462906

Frequency of Price Adjustment and Pass-through

Gopinath, Gita - 2008

A common finding across empirical studies of price adjustment is that there is large heterogeneity in the frequency of price adjustment. However, there is little evidence of how distant prices are from the desired flexible price. Without this evidence, it is difficult to discern what the...

Persistent link: https://www.econbiz.de/10012464447

Currency Choice and Exchange Rate Pass-through

Gopinath, Gita - 2007

A central assumption of open economy macro models with nominal rigidities relates to the currency in which goods are priced, whether there is so-called producer currency pricing or local currency pricing. This has important implications for exchange rate pass-through and optimal exchange rate...

Persistent link: https://www.econbiz.de/10012465217

Staggered Price Setting and Endogenous Persistence

Bergin, Paul R. - 1998

This paper generates persistent effects of a monetary disturbance in the context of staggered price-setters. Previous research has been restricted by the CES functional form to price-setting rules that are constant markups over marginal costs. The present paper considers a translog form for...

Persistent link: https://www.econbiz.de/10012472310

Market Share and Exchange Rate Pass-Through in World Automobile Trade

Feenstra, Robert C. - 1993

This paper explores the relationship between exchange rate pass-through and market share for monopolistically competitive exporters. Under fairly general assumptions we show that pass-through should be high for exporters based in a country with a very large share of total destination market...

Persistent link: https://www.econbiz.de/10012474552