Price Rigidity

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Price Rigidity

Author : Torben M. Andersen
Publisher : Oxford University Press on Demand
ISBN 13 : 9780198287605
Total Pages : 186 pages
Book Rating : 4.2/5 (876 download)

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Book Synopsis Price Rigidity by : Torben M. Andersen

Download or read book Price Rigidity written by Torben M. Andersen and published by Oxford University Press on Demand. This book was released on 1994 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The price adjustment process is crucial to almost any macroeconomic issue. Current macroeconomic literature features widely different models ranking from instantaneous price adjustment to completely rigid prices. Professor Andersen provides a comprehensive analysis of reasons why prices may fail to adjust instantaneously to changes in market conditions. This unified treatment will allow the reader to understand the mechanisms at work without becoming lost in technical details. This volume covers both real and nominal price rigidities and integrates existing results from the literature with new results on causes for failures of price adjustment. The analysis of real price rigidities includes inventories, customer markets, search and collusive behaviour. Due to the focus on macroeconomic implications, the analysis of nominal price rigidities is extensive and includes menu costs, informational problems, asynchronized price setting as well as the interaction between price and wage setting. Professor Andersen's own theoretical work on imperfect information, a prime source of price and wage rigidity, is given prominence in the book. The volume is thus a combination of a valuable survey of the literature, and an original expression of future possible research avenues.

Asking About Prices

Author : Alan Blinder
Publisher : Russell Sage Foundation
ISBN 13 : 1610440684
Total Pages : 412 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Asking About Prices by : Alan Blinder

Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.

Price Points and Price Rigidity

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (837 download)

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Book Synopsis Price Points and Price Rigidity by :

Download or read book Price Points and Price Rigidity written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Price Rigidity in Imperfectly Competitive Markets

Author : Steven Alan Sharpe
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Price Rigidity in Imperfectly Competitive Markets by : Steven Alan Sharpe

Download or read book Price Rigidity in Imperfectly Competitive Markets written by Steven Alan Sharpe and published by . This book was released on 1987 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Rigidity Theory and Applications

Author : M.F. Thorpe
Publisher : Springer Science & Business Media
ISBN 13 : 0306470896
Total Pages : 435 pages
Book Rating : 4.3/5 (64 download)

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Book Synopsis Rigidity Theory and Applications by : M.F. Thorpe

Download or read book Rigidity Theory and Applications written by M.F. Thorpe and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although rigidity has been studied since the time of Lagrange (1788) and Maxwell (1864), it is only in the last twenty-five years that it has begun to find applications in the basic sciences. The modern era starts with Laman (1970), who made the subject rigorous in two dimensions, followed by the development of computer algorithms that can test over a million sites in seconds and find the rigid regions, and the associated pivots, leading to many applications. This workshop was organized to bring together leading researchers studying the underlying theory, and to explore the various areas of science where applications of these ideas are being implemented.

The Effect of Price Rigidity on the Intensity of Price Versus Service Quality Competition

Author : Wujin Chu
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Effect of Price Rigidity on the Intensity of Price Versus Service Quality Competition by : Wujin Chu

Download or read book The Effect of Price Rigidity on the Intensity of Price Versus Service Quality Competition written by Wujin Chu and published by . This book was released on 1992 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Collusion and Price Rigidity

Author : Susan Athey
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis Collusion and Price Rigidity by : Susan Athey

Download or read book Collusion and Price Rigidity written by Susan Athey and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Relative Rigidity of Monopoly Pricing (Classic Reprint)

Author : Julio J. Rotemberg
Publisher : Forgotten Books
ISBN 13 : 9780666181596
Total Pages : 30 pages
Book Rating : 4.1/5 (815 download)

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Book Synopsis The Relative Rigidity of Monopoly Pricing (Classic Reprint) by : Julio J. Rotemberg

Download or read book The Relative Rigidity of Monopoly Pricing (Classic Reprint) written by Julio J. Rotemberg and published by Forgotten Books. This book was released on 2018-02-23 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Relative Rigidity of Monopoly Pricing The relationship between industry structure and pricing is a major focus of Industrial Organization. One of the most striking facts to have emerged about this relationship is that monopolists tend to change their prices less frequently than tight oligopolies. Although the first evidence in this regard was presented by Stigler (1947) almost forty years ago, no theoretical explanations have been offered. The objective of this papergis to develop models capable of explaining these facts. Stigler's objective in comparing the relative rigidity of monopoly and dqoly prices was to test the kinked demand curve theory of Hall and Hitch (1939) and Sweezy Since the work of Gardiner Means (1935) seemed to show that concentrated industries exhibited greater price rigidity than their unconcentrated counterparts, the kinked demand curve was developed and embraced as providing a theoretical foundation for the rigidity of prices. It was widely regarded to be an implication of that theory that du0polists would not change their prices in response to small changes in their costs. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Price Rigidity and Market Structure

Author : Timothy H. Hannan
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Price Rigidity and Market Structure by : Timothy H. Hannan

Download or read book Price Rigidity and Market Structure written by Timothy H. Hannan and published by . This book was released on 1989 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Staggered Price Setting and Real Rigidities

Author : Michael T. Kiley
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Staggered Price Setting and Real Rigidities by : Michael T. Kiley

Download or read book Staggered Price Setting and Real Rigidities written by Michael T. Kiley and published by . This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Factor Intensity and Price Rigidity

Author : Ekaterina V. Peneva
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Factor Intensity and Price Rigidity by : Ekaterina V. Peneva

Download or read book Factor Intensity and Price Rigidity written by Ekaterina V. Peneva and published by . This book was released on 2009 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on Price Rigidity on the Internet

Author : Dongwon Lee
Publisher :
ISBN 13 :
Total Pages : 418 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Essays on Price Rigidity on the Internet by : Dongwon Lee

Download or read book Essays on Price Rigidity on the Internet written by Dongwon Lee and published by . This book was released on 2006 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Roles of Price Points and Menu Costs in Price Rigidity

Author : Edward S. Knotek
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (117 download)

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Book Synopsis The Roles of Price Points and Menu Costs in Price Rigidity by : Edward S. Knotek

Download or read book The Roles of Price Points and Menu Costs in Price Rigidity written by Edward S. Knotek and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Combinatorial Rigidity

Author : Jack E. Graver
Publisher : American Mathematical Soc.
ISBN 13 : 0821838016
Total Pages : 184 pages
Book Rating : 4.8/5 (218 download)

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Book Synopsis Combinatorial Rigidity by : Jack E. Graver

Download or read book Combinatorial Rigidity written by Jack E. Graver and published by American Mathematical Soc.. This book was released on 1993 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents rigidity theory in a historical context. The combinatorial aspects of rigidity are isolated and framed in terms of a special class of matroids, which are a natural generalization of the connectivity matroid of a graph. The book includes an introduction to matroid theory and an extensive study of planar rigidity. The final chapter is devoted to higher dimensional rigidity, highlighting the main open questions. Also included is an extensive annotated bibiolography with over 150 entries. The book is aimed at graduate students and researchers in graph theory and combinatorics or in fields which apply the structural aspects of these subjects in architecture and engineering. Accessible to those who have had an introduction to graph theory at the senior or graduate level, the book would be suitable for a graduate course in graph theory.

Market Structure and the Nature of Price Rigidity

Author : David Neumark
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Market Structure and the Nature of Price Rigidity by : David Neumark

Download or read book Market Structure and the Nature of Price Rigidity written by David Neumark and published by . This book was released on 1989 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Optimal Pricing, Inflation, and the Cost of Price Adjustment

Author : Eytan Sheshinski
Publisher : MIT Press
ISBN 13 : 9780262193320
Total Pages : 546 pages
Book Rating : 4.1/5 (933 download)

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Book Synopsis Optimal Pricing, Inflation, and the Cost of Price Adjustment by : Eytan Sheshinski

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.

Imperfect Competition and Sticky Prices

Author : N. Gregory Mankiw
Publisher : MIT Press
ISBN 13 : 9780262631334
Total Pages : 448 pages
Book Rating : 4.6/5 (313 download)

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Book Synopsis Imperfect Competition and Sticky Prices by : N. Gregory Mankiw

Download or read book Imperfect Competition and Sticky Prices written by N. Gregory Mankiw and published by MIT Press. This book was released on 1991 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection.Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets. Contributors George A Akerlof, Costas Azariadis, Laurence Ball, Ben S. Bernanke, Mark Bits, Olivier J. Blanchard, Alan S. Blinder, John Bryant, Andrew S. Caplin, Dennis W. Carlton, Stephen G. Cecchetti, Russell Cooper, Peter A. Diamond, Gary Fethke, Stanley Fischer, Robert E. Hall, Oliver Hart, Andrew John, Nobuhiro Kiyotaki, Alan B. Krueger, David M. Lilien, Ian M. McDonald, N. David Mankiw, Arthur M. Okun, Andres Policano, David Romer, Julio J. Rotemberg, Garth Saloner, Carl Shapiro, Andrei Shleifer, Robert M. Solow, Daniel F. Spulber, Joseph E. Stiglitz, Lawrence H. Summers, John Taylor, Andrew Weiss, Michael Woodford, Janet L. Yellen