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The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past … history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that … menu-cost model as a literal description of these firms' behavior, arguing instead that price stickiness arises from …
Persistent link: https://www.econbiz.de/10012468957
The world's population is living longer but retiring earlier, and vast numbers of adults now spend as much as 1/3 of their lifetimes relying on public and private retirement benefits. Consequently, labor economists are interested in the forces driving retirement behavior, seeking to understand...
Persistent link: https://www.econbiz.de/10012472317
previous research has indicated. That is, seasonal price movements have become more prominent in the relatively stable … in prices differs greatly by item, making it difficult to generalize about seasonal price movements. A casual reading …
Persistent link: https://www.econbiz.de/10012473706
We combine data on individual trade transactions from U.S. customs records with comprehensive information on firms' employment from the Census Bureau's business register to examine wholesalers and retailers in U.S. exports and imports. Exporters and importers with 100 percent employment in...
Persistent link: https://www.econbiz.de/10012462991
-intensive technologies required to automate additional tasks. Following a decline in the price of capital, large firms automate more of their …
Persistent link: https://www.econbiz.de/10012496133
This paper documents the extent and characteristics of plants and firms in the US that are outside the manufacturing sector according to official government statistics but nonetheless are heavily involved in activities related to the production of manufactured goods. Using new data on...
Persistent link: https://www.econbiz.de/10012459266
We investigate how formularies used by pharmacy benefit managers (PBMs) can affect manufacturer rebates for branded drugs. We first present a theoretical model of multidimensional contracting in which a PBM negotiates with drug manufacturers over menus of formulary-contingent rebate payments and...
Persistent link: https://www.econbiz.de/10015056114
This paper examines the seasonal cycle in the manufacturing sector of the U.S. economy. we present estimates of the seasonal patterns in monthly data for 2-digit industries, and we demonstrate the similarity of the seasonal cycle and the business cycle in manufacturing with respect to several...
Persistent link: https://www.econbiz.de/10012475580
Traffic fatalities are the leading cause of mortality in the United States despite being preventable. While several policies have been introduced to improve traffic safety and their effects have been well documented, the role of transitory health shocks or situational factors at explaining...
Persistent link: https://www.econbiz.de/10014512087
equilibrium price effects of coupons, we employ individual-level data to estimate a discrete choice model of demand for multiple … sclerosis drugs. We use our demand estimates to parameterize a model of drug price negotiations. For this category of drugs, we …
Persistent link: https://www.econbiz.de/10012938704