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1,138
Some Evidence on the Importance of Sticky Prices
- JOURNAL OF POLITICAL ECONOMY
, 2004
"... We examine the frequency of price changes for 350 categories of goods and services covering about 70 % of consumer spending, based on unpublished data from the BLS for 1995 to 1997. Compared with previous studies we find much more frequent price changes, with half of goods' prices lasting less ..."
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Cited by 741 (15 self)
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with frequent changes in individual prices) differs from inflation for "sticky-price goods" (those displaying infrequent price changes). Compared to the predictions of popular sticky price models, actual inflation rates are far more volatile and transient, particularly for sticky-price goods.
Sticky Prices in the United States
- Journal of Political Economy
, 1982
"... Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at ..."
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Cited by 424 (5 self)
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Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at
sticky prices ∗
, 2002
"... This paper considers the role of state-contingent inflation as a fiscal shock absorber in an economy with nominal rigidities. I study the Ramsey equilibrium in a monetary model with distortionary taxation, nominal non-state-contingent debt, and sticky prices. With sticky prices, the Ramsey planner m ..."
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Cited by 2 (0 self)
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This paper considers the role of state-contingent inflation as a fiscal shock absorber in an economy with nominal rigidities. I study the Ramsey equilibrium in a monetary model with distortionary taxation, nominal non-state-contingent debt, and sticky prices. With sticky prices, the Ramsey planner
and Sticky Prices ∗
, 2012
"... Under what conditions should a central bank adopt an inflation targeting regime? This is the main question we address in this paper. A large part of the literature puts forward that these regimes should have to be adopted, as they yield higher macroeconomic performances. We analyze the issue of opti ..."
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of optimal inflation targeting in a new theoretical framework, which conciliates the interaction between the degree of price stickiness, and the degree of strategic complementarities in firms ’ price setting. We show that adopting a target for inflation, crucially depends on the sequential but complementary
Sticky Prices:
, 2011
"... thePresidentoftheSociety,ChrisPissarides. Wearehonored and grateful for his support of our ongoing work, sufficiently so that we are submiting the flagship paper in the project, rather than a spinoff or summary (for the record, this paper has never been submitted for publication elsewhere). A previo ..."
Abstract
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Cited by 3 (0 self)
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thePresidentoftheSociety,ChrisPissarides. Wearehonored and grateful for his support of our ongoing work, sufficiently so that we are submiting the flagship paper in the project, rather than a spinoff or summary (for the record, this paper has never been submitted for publication elsewhere). A previous version was titled “Really,
Sticky information and sticky prices
- Journal of Monetary Economics
, 2007
"... In the U.S. and Europe, prices change somewhere between every six months and once a year. Yet nominal macro shocks seem to have real effects lasting well beyond a year. “Sticky information ” models, as posited by Sims (2003), Woodford (2003) and Mankiw and Reis (2002), can reconcile micro flexibilit ..."
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Cited by 53 (7 self)
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In the U.S. and Europe, prices change somewhere between every six months and once a year. Yet nominal macro shocks seem to have real effects lasting well beyond a year. “Sticky information ” models, as posited by Sims (2003), Woodford (2003) and Mankiw and Reis (2002), can reconcile micro
Sticky Information versus Sticky Prices: a Proposal to Replace the New Keynesian Phillips Curve
, 2002
"... This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared with the commonly used sticky-price model, this sticky-information model displays three related properties that are more consistent with accepted v ..."
Abstract
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Cited by 489 (25 self)
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This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared with the commonly used sticky-price model, this sticky-information model displays three related properties that are more consistent with accepted
Sticky Prices, No Menu Costs
, 2002
"... discussion and critical comment. References in publications to International Finance Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be cleared with the author or authors. Recent IFDPs are available on the Web at www.federalreserve.gov/p ..."
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discussion and critical comment. References in publications to International Finance Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be cleared with the author or authors. Recent IFDPs are available on the Web at www.federalreserve.gov/pubs/ifdp/.Sticky
Equilibrium Sticky Prices ∗
, 2007
"... I offer a macroeconomic view of product markets that combines the desirable properties of the market-clearing models descended from the real business cycle model, on the one hand, and the sticky-price disequilibrium model of modern inflation analysis, on the other hand. I adhere strictly to the basi ..."
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I offer a macroeconomic view of product markets that combines the desirable properties of the market-clearing models descended from the real business cycle model, on the one hand, and the sticky-price disequilibrium model of modern inflation analysis, on the other hand. I adhere strictly
Sticky prices or sticky information? *
"... The New Keynesian Model (NKMl, in its various versions, is the most commonly used instrument for monetary policy analysis. The reason of its success Bes in the mix of assumptions used in building the model. On the one hand, the NKM combines elements of dynamic ..."
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The New Keynesian Model (NKMl, in its various versions, is the most commonly used instrument for monetary policy analysis. The reason of its success Bes in the mix of assumptions used in building the model. On the one hand, the NKM combines elements of dynamic
Results 1 - 10
of
1,138