There are two objectives of this article: (i) It is discussed theoreticallyhow the dynamics of pricing decisions of multiproduct retailers can be explained. (ii) It is analyzed empirically by use ofscanner data how prices are actually set and how consumers reactat the point of sale to price...

The objective of this research is to test the hypothesis that pricing conduct in SouthAfrica, revealed by studies of pricing microdata, can be shown to have an impact on themodeling and conduct of monetary policy. In order to discern stylised facts about pricingconduct in South Africa, use is...

Most empirical studies on price setting that use micro data focus on advanced industrial countries. In this paper we analyze the experience of an emerging economy, Slovakia, using a large micro-level dataset that accounts for a substantial part of the consumer price index (about 5 million...

Local governments in Australia are constantly seeking to raise additional revenue to fund higher service demands. One key revenue source is service fees and charges, including fines. Premised on the notion of user pays, service fees and charges represent a significant proportion of total revenue...

This paper explores the role of a number of factors in explaining the heterogeneity in the degree of price stickiness across industries, on the basis of the information provided by surveys on pricing behavior conducted in nine euro area countries. The main focus is placed on the influence of...

This paper documents producer price setting in 6 countries of the euro area: Germany, France, Italy, Spain, Belgium and Portugal. It collects evidence from available studies on each of those countries and also provides new evidence. These studies use monthly producer price data. The following...

This paper shows that the standard Calvo model clearly fails to account for the distribution of price durations found in micro data. We propose a novel price setting model that fully captures heterogeneity in individual pricing behavior. Specifi cally, we assume that there is a continuum of...

This paper presents US and euro area estimates for a fully heterogeneous model, in which there is a continuum of fi rms setting prices with a constant probability of adjustment, which may differ from fi rm to fi rm. The estimated model accurately matches the empirical distribution function of...

In this dissertation, I present five dynamic general equilibrium models. The distinguishing feature of these models is that they incorporate reciprocal altruistic behavior into an otherwise standard New Keynesian framework. In particular, I extend the New Keynesian model such that the assumed...

The basic machines of macroeconomics. Ramsey, Solow, Samuelson-Diamond, RBCs, ISLM, Mundell-Fleming, Fischer-Taylor. How they work, what shortcuts they take, and how they can be used. Half-term subject. From the course home page: Course Description This is the second course in the four-quarter...