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Author : Evanthia Fasoula
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Price Regulations and Price Adjustment Dynamics written by Evanthia Fasoula and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maurice Obstfeld
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)
Download or read book Exchange Rate Dynamics with Sluggish Prices Under Alternative Price-adjustment Rules written by Maurice Obstfeld and published by . This book was released on 1983 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies exchange rate behavior in models with moving long-run equilibria incorporating alternative price-adjustment mechanisms.The paper demonstrates that price-adjustment rules proposed by Mussa andby Barro and Grossman yield models that are empirically indistinguishable from each other. For speeds of goods-market adjustment that are "too fast," the Barro-Grossman rule appears to induce instability; but we argue that when the ruleis interpreted properly, models incorporating it are dynamically stable regardless of the speed at which disequilibriumis eliminated. The Barro-Grossman pricing scheme is shown to be a natural generalization, to a setting of moving long-run equilibria, of less versatile schemes proposed in earlier literature on exchange rate dynamics.
Author : Eytan Sheshinski
Publisher : MIT Press
ISBN 13 : 9780262193320
Total Pages : 546 pages
Book Rating : 4.1/5 (933 download)
Download or read book Optimal Pricing, Inflation, and the Cost of Price Adjustment written by Eytan Sheshinski and published by MIT Press. This book was released on 1993 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: These collected articles constitute what is perhaps the definitive study of pricing models under inflation, providing a solid basis for further research on this elusive question. What are the real effects of inflation? These collected articles constitute what is perhaps the definitive study of pricing models under inflation, providing a solid basis for further research on this elusive question. Covering a broad range of theory and applications by well-known microeconomists, the eighteen contributions evaluate the effects of inflation on aggregate output and on welfare and reveal the scope of recent efforts to explicitly incorporate frictions in economic models. A basic building block common to most of the essays in this volume is the observation that individual firms change nominal prices intermittently. The frequency and size of nominal price changes are influenced by the cost of price adjustment and changes in the economic environment, production costs, market demand, market structure, and most important, inflation. Thus the degree of nominal rigidity is influenced by the economic environment, and in a dynamic context. Two introductory essays survey the empirical studies of pricing policies by individual firms and the theoretical efforts to integrate the nominal rigidities at the micro level into macro relationships. The essays that follow treat the general problem of optimal dynamic adjustment in the presence of convex costs of adjustment, include applications of the inventory models to the case of nominal price adjustment by an individual firm, address the question of aggregation, introduce active search by consumers, and provide empirical analysis of nominal price rigidities.
Author : Maurice Obstfeld
Publisher :
ISBN 13 :
Total Pages : 174 pages
Book Rating : 4.:/5 (129 download)
Download or read book Exchange rate dynamics with sluggish prices under alternative price-adjustment rules written by Maurice Obstfeld and published by . This book was released on 1984 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maurice OBSTFELD
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book EXCHANGE RATE DYNAMICS WITH SLUGGISH PRICES ALTERNATIVE PRICE - ADJUSTMENT RULES written by Maurice OBSTFELD and published by . This book was released on 1983 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David S. Silby
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (62 download)
Download or read book The Dynamics of Price Adjustment in Regulated Industries written by David S. Silby and published by . This book was released on 1975 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steve McCorriston
Publisher :
ISBN 13 : 0198732392
Total Pages : 209 pages
Book Rating : 4.1/5 (987 download)
Download or read book Food Price Dynamics and Price Adjustment in the EU written by Steve McCorriston and published by . This book was released on 2015 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the important issue of food prices across EU Member States. Although recent attention has focused on events in world commodity markets following the spikes in world prices in 2007-2008 and 2011, there has been comparatively little attention addressing food price dynamics at the retail level. This volume addresses the characteristics of retail food price behaviour and the nature and drivers of price transmission across the EU. There are several inter-related features of the research reported here. First, the volume reports the characteristics of retail food inflation across the EU and the extent to which it differs from non-food inflation. Second, given the different experience of food inflation across EU Member States, it details the process of price transmission as shocks from upstream and world markets are passed through the food sector to the retail stage. Third, it addresses how the extent and nature of price transmission is determined by various aspects of competition throughout the domestic food sector and how the nature of vertical contracting between stages can determine the price transmission process. Finally, it outlines the potential of high-frequency, product-specific scanner data to address price dynamics and adjustment issues and how scanner data can also be used to measure food price inflation. The book will be of interest to researchers on price transmission and competition issues in the EU and, given the wider interest on these issues coupled with the novel use of scanner data, to researchers further afield. The contributions will also be of interest to policymakers and stakeholders as they seek to make sense of, and to address, regulation issues as they relate to the food sector.
Author : Gianluigi Vernasca
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (226 download)
Download or read book Dynamic price competition with price adjustment costs and product differentiation written by Gianluigi Vernasca and published by . This book was released on 2003 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Curtis Eberwein
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (245 download)
Download or read book Dynamic price adjustment under imperfect competition written by Curtis Eberwein and published by . This book was released on 1998 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Samuel Sterling McMillan
Publisher :
ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.:/5 (8 download)
Download or read book Individual Firm Adjustments Under OPA written by Samuel Sterling McMillan and published by . This book was released on 1949 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anindya Banerjee
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (12 download)
Download or read book Industry Structure and the Dynamics of Price Adjustment written by Anindya Banerjee and published by . This book was released on 1999 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Timur Kuran
Publisher :
ISBN 13 :
Total Pages : 326 pages
Book Rating : 4.F/5 ( download)
Download or read book Price Adjustment Under Inflation, and Rules of Trade written by Timur Kuran and published by . This book was released on 1982 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Etienne Gagnon
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (129 download)
Download or read book Individual Price Adjustment Along the Extensive Margin written by Etienne Gagnon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms employ a rich variety of pricing strategies whose implications for aggregate price dynamics often diverge. This situation poses a challenge for macroeconomists interested in bridging micro and macro price stickiness. In responding to this challenge, we note that differences in macro price stickiness across pricing mechanisms can often be traced back to price changes that are either triggered or cancelled by shocks. We exploit observed micro price behavior to quantify the importance of this margin of adjustment for the response of inflation to shocks. Across a range of empirical exercises, we find strong evidence that changes in the timing of price adjustments contribute significantly to the flexibility of the aggregate price level.
Author : James Walter Hagerman
Publisher :
ISBN 13 :
Total Pages : 206 pages
Book Rating : 4.:/5 (562 download)
Download or read book Issues in Regulation by Price Adjustment written by James Walter Hagerman and published by . This book was released on 1985 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gary Biglaiser
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Dynamics of Price Regulation written by Gary Biglaiser and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the dynamics of price regulation for an industry adjusting to exogenous technological progress. First, we characterize the optimal capacity path and replacement cycles in a neoclassical investment model. Second, we show that naive rate-of-return regulation, which ignores components of economic depreciation, eventually results in a deficient level of capacity due to excessively high retail prices burdened by the need to recover the underdepreciated costs of historical investments. Third, we explain how price-cap regulation leads to more efficient capital replacement decisions compared to naive rate-of-return regulation, and we show how finite price-cap horizons distort capital replacement decisions compared to optimal regulation. Finally, we interpret recent regulatory reforms in telecommunications markets.
Author : Gianluigi Vernasca
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (5 download)
Download or read book Dynamic Price Competition with Price Adjustments Costs and Product Differentiation written by Gianluigi Vernasca and published by . This book was released on 2003 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steffen Ahrens
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (88 download)
Download or read book A Theory of Price Adjustment Under Loss Aversion written by Steffen Ahrens and published by . This book was released on 2014 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price changes are evaluated relative to an endogenous reference price, which depends on the consumers' rational price expectations from the recent past. By implication, demand responses are more elastic for price increases than for price decreases and thus firms face a downward-sloping demand curve that is kinked at the consumers' reference price. Firms adjust their prices flexibly in response to variations in this demand curve, in the context of an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is starkly at variance with past theories. We find that - in line with the empirical evidence - prices are more sluggish upwards than downwards in response to temporary demand shocks, while they are more sluggish downwards than upwards in response to permanent demand shocks.
