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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
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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
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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
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Price Setting and Price Adjustment in Some European Union Countries : Introduction to the Special Issue
Levy, Daniel - 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
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Price Setting and Price Adjustment in Some European Union Countries : Introduction to the Special Issue
Levy, Daniel - 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
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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
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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
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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
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Sectoral output effects of monetary policy : do sticky prices matter?
Henkel, Lukas - 2020
price stickiness as measured by the average frequency of price adjustment. The size of the differential reaction is …
Persistent link: https://www.econbiz.de/10012299082
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Monetary policy and multiple equilibria
Benhabib, Jess; Schmitt-Grohé, Stephanie; Uribe, Martín - 1999 - Revised
In this paper, we characterize conditions under which interest rate feedback rules that set the nominal interest rate as an increasing function of the inflation rate induce aggregate instability by generating multiple equilibria. We show that these conditions depend not only on the...
Persistent link: https://www.econbiz.de/10011576838