endogenous international price movements that are consistent with both the "old" and the "new" facts. In this mechanism, firms … operating in a monopolistically competitive environment adjust price and quality of their products in response to technological … shocks. This model is consistent with the old facts if price levels are not adjusted for quality. Instead, if quality …

Though built with increasingly precise microfoundations, modern optimizing sticky price models have displayed a chronic … [2000]. This is an ironic finding, since Taylor [1980] and other researchers were motivated to study sticky price models in … standard view of the cyclical behavior of real marginal cost built into current sticky price macro models. Using both a small …

Though built with increasingly precise microfoundations, modern optimizing sticky price models have displayed a chronic … [2000]. This is an ironic finding, since Taylor [1980] and other researchers were motivated to study sticky price models in … standard view of the cyclical behavior of real marginal cost built into current sticky price macro models. Using both a small …

In many markets, the price of a good or service is flexible. Buyers can either buy at the posted price or attempt to … negotiate a lower price. A seller's decision about whether to allow flexible prices and subsequent outcome in these types of … flexible price markets depends, in large part, on buyer behavior. Furthermore, these markets are likely to feature substantial …

Electronic shelf label (ESL) is an emerging price display technology around the world. While these new technologies … in material, labor and managerial costs. The presumed benefits of ESL, for example, tend to be focused around lower price … adjustment costs (PAC), also known as menu costs. However, ESL not only can save PAC but may also enable the retailer to price …