Price points and price dynamics
| Type of Publication: | Journal article |
| Publication status: | Published |
| Author: | Hahn, Volker; Marencak, Michal |
| Year of publication: | 2020 |
| Published in: | Journal of Monetary Economics ; 115 (2020). - pp. 127-144. - Elsevier. - ISSN 0304-3932. - eISSN 1873-1295 |
| DOI (citable link): | https://dx.doi.org/10.1016/j.jmoneco.2019.05.007 |
| Summary: |
A standard model of price-setting is extended to include an important role for price points as well as sticky information. It makes empirically reasonable predictions about the frequency of price adjustments, the sizes of price increases and decreases, the shape of the hazard function, the fraction of price changes that are price increases, and the relationship between price changes and inflation. When the model of price-setting is integrated into a small-scale DSGE model, it implies plausible aggregate effects of monetary policy in contrast to a model with a prominent role for price points but no information rigidities.
|
| Subject (DDC): | 330 Economics |
| Keywords: | Price dynamics, Price stickiness, Price point, Sticky information |
| Bibliography of Konstanz: | Yes |
| Refereed: | Yes |
Cite This
Files in this item
| Files | Size | Format | View |
|---|---|---|---|
|
There are no files associated with this item. |
|||
HAHN, Volker, Michal MARENCAK, 2020. Price points and price dynamics. In: Journal of Monetary Economics. Elsevier. 115, pp. 127-144. ISSN 0304-3932. eISSN 1873-1295. Available under: doi: 10.1016/j.jmoneco.2019.05.007
@article{Hahn2020Price-47906, title={Price points and price dynamics}, year={2020}, doi={10.1016/j.jmoneco.2019.05.007}, volume={115}, issn={0304-3932}, journal={Journal of Monetary Economics}, pages={127--144}, author={Hahn, Volker and Marencak, Michal} }
<rdf:RDF xmlns:dcterms="http://purl.org/dc/terms/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dspace="http://digital-repositories.org/ontologies/dspace/0.1.0#" xmlns:foaf="http://xmlns.com/foaf/0.1/" xmlns:void="http://rdfs.org/ns/void#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/47906"> <dc:contributor>Marencak, Michal</dc:contributor> <dcterms:isPartOf rdf:resource="https://kops.uni-konstanz.de/rdf/resource/123456789/46"/> <dc:creator>Marencak, Michal</dc:creator> <dspace:isPartOfCollection rdf:resource="https://kops.uni-konstanz.de/rdf/resource/123456789/46"/> <bibo:uri rdf:resource="https://kops.uni-konstanz.de/handle/123456789/47906"/> <dc:contributor>Hahn, Volker</dc:contributor> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2019-12-09T13:46:47Z</dc:date> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> <dcterms:title>Price points and price dynamics</dcterms:title> <dc:creator>Hahn, Volker</dc:creator> <dcterms:abstract xml:lang="eng">A standard model of price-setting is extended to include an important role for price points as well as sticky information. It makes empirically reasonable predictions about the frequency of price adjustments, the sizes of price increases and decreases, the shape of the hazard function, the fraction of price changes that are price increases, and the relationship between price changes and inflation. When the model of price-setting is integrated into a small-scale DSGE model, it implies plausible aggregate effects of monetary policy in contrast to a model with a prominent role for price points but no information rigidities.</dcterms:abstract> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2019-12-09T13:46:47Z</dcterms:available> <foaf:homepage rdf:resource="http://localhost:8080/jspui"/> <dc:language>eng</dc:language> <dcterms:issued>2020</dcterms:issued> </rdf:Description> </rdf:RDF>
This item appears in the following Collection(s)
Search KOPS
Browse
My Account
