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(S,s) pricing : does the heterogeneity wipe out the asymmetry on micro level?
Babutsidze, Zakaria - 2010
conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity … softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself. -- (S …,s) pricing ; heterogeneity ; asymmetry ; four-state shocks …
Persistent link: https://www.econbiz.de/10003984536
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(S,s) Pricing: Does the Heterogeneity Wipe Out the Asymmetry on Micro Level?
Babutsidze, Zakaria - United Nations University, Maastricht Economic and … - 2006
level can result in asymmetry on the macro level and what is the role of heterogeneity of agents in the process. It looks at … extent the first type of asymmetry can be attributed to the asymmetry of adjustment bands and that heterogeneity softens the … effect, but the second type of asymmetry is the result of (S,s) pricing behaviour of firms, thus of heterogeneity itself. …
Persistent link: https://www.econbiz.de/10005150871
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(S,s) pricing: Does the heterogeneity wipe out the asymmetry on micro level?
Babutsidze, Zakaria - Institut für Weltwirtschaft (IfW) - 2010
conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity … softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself. …This paper presents a model of asymmetric (S,s) pricing. We investigate whether the asymmetry on micro level is carried …
Persistent link: https://www.econbiz.de/10008597181
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(S,s) Pricing: Does the Heterogeneity Wipe Out the Asymmetry on Micro Level?
Babutsidze, Zakaria - United Nations University-Maastricht Economic Research … - 2006
level can result in asymmetry on the macro level and what is the role of heterogeneity of agents in the process. It looks at … extent the first type of asymmetry can be attributed to the asymmetry of adjustment bands and that heterogeneity softens the … effect, but the second type of asymmetry is the result of (S,s) pricing behaviour of firms, thus of heterogeneity itself. …
Persistent link: https://www.econbiz.de/10010712186
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Large Shocks in Menu Cost Models
Karadi, Peter - 2012
How do prices react to large aggregate shocks? Our new micro-data evidence on value-added tax changes shows that prices react (i) flexibly and (ii) asymmetrically to large positive and negative shocks. We use it to quantitatively evaluate the performance of prominent pricing models. We show that...
Persistent link: https://www.econbiz.de/10013104018
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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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The working capital channel
Suveg, Melinda - 2023
The New Keynesian model, augmented with the working capital channel, predicts that a rise in the policy rate causes firms that use more working capital to increase their prices more, and that the pass-through is gradual because of price rigidity. Using a unique dataset on firm-product-level...
Persistent link: https://www.econbiz.de/10014440752
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Exchange rate and price dynamics at the zero lower bound : conference paper
Bäurle, Gregor; Kaufmann, Daniel - 2013
In this paper, we analyse nominal exchange rate and price dynamics after risk shocks with short-term interest rates constrained by the zero lower bound (ZLB). We show with a stylized theoretical model that temporary risk shocks may lead to permanent shifts of the exchange rate and the price...
Persistent link: https://www.econbiz.de/10010340556
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Endogenous frequencies and large shocks : price setting in Greece during the crisis
Dixon, Huw David; Kosma, Theodora; Petroulas, Pavlos - 2023
We utilize a unique micro price data set for Greece that underpins the Greek CPI. It spans almost two decades, during which Greece suffered a large economic shock. We find that during this time there were significant changes in the pricing behavior of Greek firms. We also find macro-economic...
Persistent link: https://www.econbiz.de/10014256837
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Does indexation bias the estimated frequency of price adjustment?
Kichian, Maral; Kryvtsov, Oleksiy - 2007
We assess the implications of price indexation for estimated frequency of price adjustment in sticky price models of business cycles. These models predominantly assume that non-reoptimized prices are indexed to lagged or average inflation. The assumption of price indexation adds tractability...
Persistent link: https://www.econbiz.de/10010279986