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Sticky Information Versus Sticky Prices : A Horse Race Under a General Price-Setting Scheme

Yao, Fang - 2011

This paper compares sticky-price and sticky-information model under a more general staggering price-setting scheme. Different to Mankiw and Reis (2002), who show that, under the Calvo staggering assumption, two models generate very different inflation dynamics, I extend the constant-hazard...

Persistent link: https://www.econbiz.de/10014179247

Sticky Information Versus Sticky Prices Revisited : A Bayesian VAR-GMM Approach

Kurozumi, Takushi; Oishi, Ryohei; Van Zandweghe, Willem - 2022

Several Phillips curves based on sticky information and sticky prices are estimated and compared using Bayesian VAR-GMM. This method derives expectations in each Phillips curve from a VAR and estimates the Phillips curve parameters and the VAR coefficients simultaneously. Quasi-marginal...

Persistent link: https://www.econbiz.de/10014238446

Price Setting and Price Adjustment in Some European Union Countries : Introduction to the Special Issue

Levy, Daniel C. - 2010

This introductory essay briefly summarizes the eleven empirical studies of price setting and price adjustment that are …

Persistent link: https://www.econbiz.de/10013134926

Price Setting and Price Adjustment in Some European Union Countries : Introduction to the Special Issue

Levy, Daniel C. - 2011

This introductory essay briefly summarizes the eleven empirical studies of price setting and price adjustment that are …

Persistent link: https://www.econbiz.de/10013123409

Market structure and cost pass-through in retail

Hong, Gee Hee; Li, Nicholas - 2013

We examine the extent to which vertical and horizontal market structure can together explain incomplete retail pass-through. To answer this question, we use scanner data from a large U.S. retailer to estimate product level pass-through for three different vertical structures: national brands,...

Persistent link: https://www.econbiz.de/10009714472

Price setting and price adjustment in some European Union countries : introduction to the special issue

Levy, Daniel C. (contributor) - 2010 - Last rev.: February 11, 2010

This introductory essay briefly summarizes the eleven empirical studies of price setting and price adjustment that are … European Central Bank's Inflation Persistence Network. -- Price Rigidity ; Price Flexibility ; Cost of Price Adjustment ; Menu … Cost ; Managerial and Customer Cost of Price Adjustment ; Pricing ; Price System ; Price Setting ; New Keynesian Economics …

Persistent link: https://www.econbiz.de/10008771546

Inequality aversion and the long-run effectiveness of monetary policy : bilateral versus group comparison

Ahrens, Steffen - 2012

In this paper we incorporate the two most prominent approaches of inequality aversion, i.e. Fehr and Schmidt (1999) and Bolton and Ockenfels (2000) into an otherwise standard New Keynesian macro model and compare them with respect to their influence on the long-run effectiveness of monetary...

Persistent link: https://www.econbiz.de/10009671657

On the importance of sales for aggregate price flexibility

Kryvtsov, Oleksiy; Vincent, Nicolas - 2014

Macroeconomists have traditionally ignored the behavior of temporary price markdowns ("sales") by retailers. Although sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered out. We challenge this view. First, using the 1996 -...

Persistent link: https://www.econbiz.de/10010418254

Price-setting in Mexico and the real effects of monetary shocks

Kochen, Federico - 2016

In this paper I use novel micro data underlying the Mexican CPI to establish stylized facts about prices in the Mexican economy. I then analyze the implications and consistency of the empirical results for the degree of monetary non-neutrality generated in both time and state-dependent pricing...

Persistent link: https://www.econbiz.de/10011568470

Discretionary monetary policy in the Calvo model

Van Zandweghe, Willem; Wolman, Alexander L. - In: Quantitative economics : QE ; journal of the … 10 (2019) 1, pp. 387-418

We study discretionary equilibrium in the Calvo pricing model for a monetary authority that chooses the money supply, producing three main contributions. First, price‐adjusting firms have a unique equilibrium price for a broad range of parameterizations, in contrast to earlier results for the...

Persistent link: https://www.econbiz.de/10011994913