Though built with increasingly precise microfoundations, modern optimizing sticky price models have displayed a chronic … [2000]. This is an ironic finding, since Taylor [1980] and other researchers were motivated to study sticky price models in … standard view of the cyclical behavior of real marginal cost built into current sticky price macro models. Using both a small …

Thi spaper is concerned with the risk-allocation effects of alternative types of contracts used to set the price of a … good tobe delivered in the future. Under a fixed price contract, the price is specified in advance. Under a spot price … contract, the price is the price prevailing in the spot market at the time of delivery.These contract forms are examined in the …

This paper presents evidence on the amount of price rigidity that exists in individual transaction prices. Using the … important findings are: 1.The degree of price rigidity in many industries is significant. It is not unusual in some industries … commodities, the correlation of price changes across buyers is very low. 3.There is no evidence that there is an asymmetry in …

consumer surplus bounds. In scanner data we find smaller panel elasticities than cross-section and that soda price increases …

volatility are high, few imports are pre-bought, the price of imports is determined by the realized real exchange rate, and a … purchased in the spot market, the price of imports is determined by the realized real exchange rate, and the relative PPP holds …-buying imports, reducing thereby the frequency of pricing to market, increasing the expected relative price of imports, reducing the …

roughly doubled. The price response to generic entry of brand-name products has been a source of controversy. In this paper we … estimate models of price responses to generic entry in the market for brand-name and generic drugs. We study a sample of 32 … increase after entry and are accompanied by large price decreases in the price of generic drugs …

We study the effect of releasing public information about productivity or monetary shocks when agents learn from … informational efficiency of the price system. We show that, when agents have private information about monetary shocks, the cost can …

This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown. I invert … the firm's investment decision to identify the embodied and disembodied components of productivity growth. With a Cobb …-Douglas production function, output price mismeasurement only should affect the latter. Contrary to the mismeasurement hypothesis, I find …

of services or unit price. We compare the treatment of heart attacks and newly diagnosed chest pain in HMOs and … may yield substantial productivity improvements relative to traditional insurance …