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Asymmetric Price Adjustment in the Small
Chen, Haipeng (Allan); Levy, Daniel; Ray, Sourav; … - In: Journal of Monetary Economics 55 (2008) 4, pp. 728-737
the small.” Furthermore, it turns out that inflation offers only a partial explanation for the finding. Indeed …, substantial proportion of the asymmetry remains unexplained, even after accounting for the inflation. For example, the asymmetry … holds also after excluding periods of inflation from the data, and even for products whose price had not increased. The …
Persistent link: https://www.econbiz.de/10012140646
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3 Lessons from Hyperinflationary Periods
Bergen, Mark; Bergen, Thomas; Levy, Daniel; Semenov, Rose - In: Harvard Business Review (2022) Forthcoming
Inflation is painful, for firms, customers, employees, and society. But careful study of periods of hyperinflation …
Persistent link: https://www.econbiz.de/10013457198
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Stuck at Zero : Price Rigidity in a Runaway Inflation
Snir, Avichai; Chen, Haipeng (Allan); Levy, Daniel - 2021
rigidity during a period of a runaway inflation, when the annual inflation rate was in the range of 60%–430%. Surprisingly, we … price adjustments even in a period of a runaway inflation, when 85 percent of the prices change every month …
Persistent link: https://www.econbiz.de/10013230109
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Shrinking goods and sticky prices: Theory and evidence
Snir, Avichai; Levy, Daniel - 2011
If producers have more information than consumers about goods' attributes, then they may use non-price (rather than price) adjustment mechanisms and, consequently, the market may reach a new equilibrium even if prices remain sticky. We study a situation where producers adjust the quantity (per...
Persistent link: https://www.econbiz.de/10010336015
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Explicit evidence of an implicit contract
Young, Andrew T.; Levy, Daniel - 2013
We thank three anonymous referees for thoughtful comments and suggestions which we found very constructive and helpful. We are particularly grateful to the editor, Al Klevorick, for his advice and painstaking guidance through the multiple revision process. We thank Robert Barsky, Susanto Basu,...
Persistent link: https://www.econbiz.de/10010336017
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Explicit Evidence on an Implicit Contract
Young, Andrew T.; Levy, Daniel - 2010
We offer the first direct evidence of an implicit contract in a goods market. The evidence we offer comes from the market for Coca-Cola. We demonstrate that the Coca-Cola Company left a substantial amount of written evidence of its implicit contract with its consumers-a very explicit form of an...
Persistent link: https://www.econbiz.de/10010336020
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Price setting and price adjustment in some European Union countries: Introduction to the special issue
Levy, Daniel; Smets, Frank - 2010
European Central Bank's Inflation Persistence Network. …
Persistent link: https://www.econbiz.de/10010336066
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Holiday price regidity and cost of price adjustment
Levy, Daniel; Müller, Georg; Chen, Haipeng (Allan); … - 2008
The Thanksgiving-Christmas holiday period is a major sales period for US retailers. Due to higher store traffic, tasks such as restocking shelves, handling customers' questions and inquiries, running cash registers, cleaning, and bagging, become more urgent during holidays. As a result, the...
Persistent link: https://www.econbiz.de/10010336068
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End of 9-Endings and Price Perceptions
Chen, Haipeng (Allan); Levy, Daniel; Snir, Avichai - 2017
We take advantage of a natural experiment to document an emergence of a new price ending that has the same effects as 9-endings. In January 2014, the Israeli parliament has passed a law prohibiting the use of non 0-ending prices. We find that one year after 9-ending prices have disappeared,...
Persistent link: https://www.econbiz.de/10011587509
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End of 9-Endings, Price Recall, and Price Perceptions
Snir, Avichai; Levy, Daniel; Chen, Haipeng - In: Economics Letters 155 (2017), pp. 157-163
Prices that end with 9, also known as psychological price points, are common, comprising about 70% of the retail prices. They are also more rigid than other prices. We take advantage of a natural experiment to document an emergence of a new price ending that has the same effects as 9-endings. In...
Persistent link: https://www.econbiz.de/10011630697