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Staggered Price Setting and Endogenous Persistence

Bergin, Paul R.; Feenstra, Robert C. - 1998

-setting rule that is a function of marginal cost and also competitors' prices. This rule better captures the interaction of price …

Persistent link: https://www.econbiz.de/10014223595

Strategic Interaction Among Heterogeneous Price-Setters in an Estimated DSGE Model

Coibion, Olivier; Gorodnichenko, Yuriy - 2009

We consider a DSGE model in which firms follow one of four price-setting regimes: sticky prices, sticky …-information, rule-of-thumb, or full-information flexible prices. We allow for each type of firm to coexist and interact via their …

Persistent link: https://www.econbiz.de/10014055259

Real Rigidities and Nominal Price Changes

Klenow, Peter J.; Willis, Jonathan L. - 2013

sizable movements in relative prices of substitute products. When we impose a significant degree of real rigidity, fitting the …

Persistent link: https://www.econbiz.de/10014058855

Chapter 25. The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics

Taylor, J.B. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2009-2042). 2016

After many years, many critiques, and many variations, the staggered wage and price setting model is still the most common method of incorporating nominal rigidities into empirical macroeconomic models used for policy analysis. The aim of this chapter is to examine and reassess the staggered...

Persistent link: https://www.econbiz.de/10014024272

Price Setting with Strategic Complementarities as a Mean Field Game

Alvarez, Fernando; Lippi, Francesco; Souganidis, Takis - National Bureau of Economic Research - 2022

We study the propagation of monetary shocks in a sticky-price general-equilibrium economy where the firms' pricing strategy feature a complementarity with the decisions of other firms. In a dynamic equilibrium the firm's price-setting decisions depend on aggregates, which in turn depend on...

Persistent link: https://www.econbiz.de/10013334411

Some Implications of Micro Price-Setting Evidence for Inflation Dynamics and Monetary Transmission

Dedola, Luca; Gautier, Erwan; Nakov, Anton; Santoro, Sergio - 2023

This paper analyses the implications of the evidence on micro price setting gathered by Price-setting Microdata Analysis Network (PRISMA) for inflation dynamics and monetary policy, relying on calibrated models and direct empirical evidence. According to models calibrated to the euro area micro...

Persistent link: https://www.econbiz.de/10014353271

Price Adjustment in the Euro Area in the Low-Inflation Period : Evidence from Consumer and Producer Micro Price Data

Gautier, Erwan; Karadi, Peter; Amann, Juergen; … - 2023

sectors. On average, 12% of consumer prices change each month, falling to 8.5% when sales prices are excluded. The frequency … of producer price adjustment is greater (25%), reflecting that the prices of intermediate goods and energy are more … flexible. For both consumer and producer prices, cross-sectoral heterogeneity is more pronounced than cross …

Persistent link: https://www.econbiz.de/10014353273

An empirical study of price dispersion in homogenous goods markets

Leiter, Daniel B.; Warin, Thierry - 2007

Persistent link: https://www.econbiz.de/10003836408

A theory of bidding dynamics and deadlines in online retail

Coey, Dominic; Larsen, Bradley J.; Platt, Brennan C. - 2016

Persistent link: https://www.econbiz.de/10011451371

Frequent flyer programs premium and the role of airport dominance

Escobari, Diego - In: Applied economics letters 18 (2011) 16/18, pp. 1565-1569

Persistent link: https://www.econbiz.de/10009383438