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Understanding How Price Responds to Costs and Production

Bils, Mark - 1999

The importance of sticky prices in business cycle fluctuations has been debated for many years. But we argue, based on a large empirical literature from the 1950's and 60's, that it is necessary to distinguish the response of price to an increase in factor prices from its response to an increase...

Persistent link: https://www.econbiz.de/10012471473

What Inventory Behavior Tells Us About Business Cycles

Bils, Mark - 1999

Manufacturers' finished goods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventionally measured. We construct, for six manufacturing industries, alternative measures of marginal cost that attribute...

Persistent link: https://www.econbiz.de/10012471474

Incomplete Cost Pass-Through Under Deep Habits

Ravn, Morten - 2007

A number of empirical studies document that marginal cost shocks are not fully passed through to prices at the firm level and that prices are substantially less volatile than costs. We show that in the relative-deep-habits model of Ravn, Schmitt-Grohe, and Uribe (2006), firm-specific marginal...

Persistent link: https://www.econbiz.de/10012465695

Panel Data Hedonics : Rosen's First Stage and Difference-in-Differences as "Sufficient Statistics"

Banzhaf, H. Spencer - 2015

For decades, economists have used the hedonic model to estimate demands for the implicit characteristics of differentiated commodities. The traditional cross-sectional approach can recover marginal willingness to pay for characteristics, but has faltered over a difficult endogeneity problem for...

Persistent link: https://www.econbiz.de/10012457183

Output Price and Markup Dispersion in Micro Data : The Roles of Producer Heterogeneity and Noise

Roberts, Mark J. - 1997

This paper provides empirical evidence on the extent of producer heterogeneity in the output market by analyzing output price and price-marginal cost markups at the plant level for thirteen homogenous manufactured goods. It relies on micro data from the U.S. Census of Manufactures over the...

Persistent link: https://www.econbiz.de/10012472739

Headwinds and Tailwinds : Implications of Inefficient Retail Energy Pricing for Energy Substitution

Borenstein, Severin; Bushnell, James B. - National Bureau of Economic Research - 2021

Electrification of transportation and buildings to reduce greenhouse gas (GHG) emissions requires massive switching from natural gas and refined petroleum products. All three end-use energy sources are mispriced due in part to the unpriced pollution they emit. Natural gas and electricity...

Persistent link: https://www.econbiz.de/10012616566

Coase v. the Coasians

Johnson, Simon - 1999

judicially enforced private contracts, judicially enforced laws, or even government regulation, may be the cheapest way to bring … strategies may sometimes be the best. This paper compares the regulation of financial markets in Poland and the Czech Republic in … the Czech Republic, hands-off regulation was associated with a near collapse of the stock market. These episodes …

Persistent link: https://www.econbiz.de/10012471336

Government as a Discriminating Monopolist in the Financial Market : The Case of China

Gordon, Roger H. - 1999

To date, China has maintained a variety of restrictions on its financial markets. In addition to imposing capital controls and regulating interest rates, the government controls both the set of firms that can sell equity on the domestic or foreign stock markets, and the amount they can sell....

Persistent link: https://www.econbiz.de/10012471684

Energy and Environmental Markets, Industrial Organization, and Regulation

Kellogg, Ryan; Reguant, Mar - National Bureau of Economic Research - 2021

markets and environmental regulation. We emphasize the substantive contributions of recent papers while also highlighting how … the topics examined by this literature--especially auctions, investment, productivity and innovation, and regulation …

Persistent link: https://www.econbiz.de/10012629455

A Model of the Socially Optimal Use of Liability and Regulation

Shavell, Steven - 1983

Liability and safety regulation are examined as means of controlling risks in a theoretical model of the occurrence of … accidents. According to the model, regulation does not result in appropriate reduction of risk -- due to the regulator's lack of … out to be superior to regulation or the reverse could be true. But as is stressed, joint use of the two means of …

Persistent link: https://www.econbiz.de/10012477879

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