This paper reports the results of an ad hoc survey on price-setting behaviour conducted in February 2004 among 2,000 Belgian firms. The reported results clearly deviate from a situation of perfect competition and show that firms have some market power. Pricing-to-market is applied by a majority...

This paper introduces heterogeneous households into an otherwise standard sticky-price model with industry-specific labor markets. Households differ in labor incomes and asset markets are incomplete. I show that household heterogeneity affects equilibrium dynamics nontrivially by amplifying...

This paper introduces heterogeneous households into an otherwise standard sticky-price model with industry-specific labor markets. Households differ in labor incomes and asset markets are incomplete. I show that household heterogeneity affects equilibrium dynamics nontrivially by amplifying...

This paper documents how the frequency of price changes differs across sectors in Korea and what implications such heterogeneity may have for monetary policy. We find that under heterogeneity: i) monetary policy has larger and more persistent real effects; ii) it is welfare improving to...

This paper develops and estimates a multi-sector sticky-price model with heterogeneous households and incomplete markets. I show that household heterogeneity amplifies the persistence and volatility of business cycle fluctuations by generating strategic complementarities in firms' pricing...

The paper presents a monetary model of endogenous growth and specifies an econometric model consistent with this model. The estimation is based on OECD and APEC panel data, from 1961-1997. It includes fixed country and time heterogeneity and shows a strong negative effect of inflation on growth...

We quantify and explain the firm responses and worker impacts of foreign demand shocks to domestic production networks. To capture that firms can be indirectly exposed to such shocks by buying from or selling to domestic firms that import or export, we use Belgian data with information on both...

We study price dynamics for computer components sold on a price-comparison website. Our fine-grained data -- a year of hourly price data for scores of rival retailers -- allow us to estimate a dynamic model of competition, backing out structural estimates of managerial frictions. The estimated...

This paper provides cross-sectional evidence of convenient prices -- prices that simplify and expedite transactions and thereby reduce the time costs from physically making a transaction. I propose that firms may wish to set convenient prices for items that: (1) are typically purchased with...

We study a unique dataset with comprehensive coverage of daily prices in large multi-product retailers in Israel. Retail stores synchronize price changes around occasional "peak" days when they reprice around 10% of their products. To assess aggregate implications of partial price...