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Do decreasing hazard functions for price changes make any sense?

Álvarez, Luis J.; Burriel, Pablo; Hernando, Ignacio - 2005

A common finding in empirical studies using micro data on consumer and producer prices is that hazard functions for price changes are decreasing. This means that a firm will have a lower probability of changing its price the longer it has kept it unchanged. This result is at odds with standard...

Persistent link: https://www.econbiz.de/10011604507

Commodity prices, money and inflation

Browne, Frank; Cronin, David - 2007

The influence of commodity prices on consumer prices is usually seen as originating in commodity markets. We argue, however, that long run and short run relationships should exist between commodity prices, consumer prices and money and that the influence of commodity prices on consumer prices...

Persistent link: https://www.econbiz.de/10011604784

Why Do Consumer Prices React less than Import Prices to Exchange Rates?

Bacchetta, Philippe; van Wincoop, Eric - 2002

It is well-known that the extent of pass-through of exchange rate changes to consumer prices is much lower than to import prices. One explanation is local distribution costs. Here we consider an alternative, complementary, explanation based on the optimal pricing strategies of firms. We consider...

Persistent link: https://www.econbiz.de/10011430033

The analytics of seasonal migration

Stark, Oded; Fan, C. Simon - 2006

A framework that yields different possible patterns of migration as optimal solutions to a simple utility maximization problem is presented and explored. It is shown that seasonal migration arises as an optimal endogenous response to a comparison of costs (of living and of separation) and...

Persistent link: https://www.econbiz.de/10011470816

Measuring real value and inflation

Hillinger, Claude - 2007

derive these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem …. For example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied … to a large aggregate of diverse consumers with non-homothetic preferences. In this paper I develop a unitary theory that …

Persistent link: https://www.econbiz.de/10010427498

Zur Diskussion über den Verbraucherpreisindex als Inflationsindikator: Beiträge zu einem Workshop in der Deutschen Bundesbank

1999

In February 1998 a work was published in the series of discussion papers produced by the Bundesbank which was concemed with problems of measuring inflation in Gerrnany. This paper met with a lively response. The Research Group of the Bundesbank therefore staged a workshop on this subject at...

Persistent link: https://www.econbiz.de/10010478854