Sticky Prices

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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.

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

Interest and Prices

Author : Michael Woodford
Publisher : Princeton University Press
ISBN 13 : 1400830168
Total Pages : 805 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Interest and Prices by : Michael Woodford

Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.

The General Theory of Employment, Interest and Money

Author : John Maynard Keynes
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (17 download)

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Book Synopsis The General Theory of Employment, Interest and Money by : John Maynard Keynes

Download or read book The General Theory of Employment, Interest and Money written by John Maynard Keynes and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Fiscal Theory of the Price Level

Author : John H. Cochrane
Publisher : Princeton University Press
ISBN 13 : 0691243247
Total Pages : 585 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis The Fiscal Theory of the Price Level by : John H. Cochrane

Download or read book The Fiscal Theory of the Price Level written by John H. Cochrane and published by Princeton University Press. This book was released on 2023-01-17 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don’t expect the government to fully repay its debts. The fiscal theory is well suited to today’s economy: Financial innovation undermines money demand, and central banks don’t control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.

Pragmatic Capitalism

Author : Cullen Roche
Publisher : Macmillan
ISBN 13 : 1137279311
Total Pages : 252 pages
Book Rating : 4.1/5 (372 download)

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Book Synopsis Pragmatic Capitalism by : Cullen Roche

Download or read book Pragmatic Capitalism written by Cullen Roche and published by Macmillan. This book was released on 2014-07-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insightful and original look at why understanding macroeconomics is essential for all investors

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

Monetary Policy, Inflation, and the Business Cycle

Author : Jordi Galí
Publisher : Princeton University Press
ISBN 13 : 1400866278
Total Pages : 295 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Monetary Policy, Inflation, and the Business Cycle by : Jordi Galí

Download or read book Monetary Policy, Inflation, and the Business Cycle written by Jordi Galí and published by Princeton University Press. This book was released on 2015-06-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts

Sticky Prices

Author : Mr.Esteban Jadresic
Publisher : International Monetary Fund
ISBN 13 : 145184932X
Total Pages : 29 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Sticky Prices by : Mr.Esteban Jadresic

Download or read book Sticky Prices written by Mr.Esteban Jadresic and published by International Monetary Fund. This book was released on 1999-05-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a model of staggered price setting that allows for a flexible distribution of the durations of the prices underlying aggregate price behavior, and estimates it with U.S. data. When tested against an unrestricted version of this model, standard models of sticky prices are rejected. In contrast, a stylized model that assumes a trimodal distribution of price durations—with clusters on the first, fourth, and eighth quarter after prices are set—easily passes the same test. In addition, this model is able to replicate the dynamic behavior of inflation and output found in the data.

Sticky Reputations

Author : Gary Alan Fine
Publisher : Routledge
ISBN 13 : 1136485643
Total Pages : 253 pages
Book Rating : 4.1/5 (364 download)

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Book Synopsis Sticky Reputations by : Gary Alan Fine

Download or read book Sticky Reputations written by Gary Alan Fine and published by Routledge. This book was released on 2012-05-22 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sticky Reputations focuses on reputational entrepreneurs and support groups shaping how we think of important figures, within a crucial period in American history – from the 1930s through the 1950s. Why are certain figures such as Adolf Hitler, Joe McCarthy, and Martin Luther King cemented into history unable to be challenged without reputational cost to the proposer of the alternative perspective? Why are the reputations of other political actors such as Harry Truman highly variable and changeable? Why, in the 1930s, was it widely believed that American Jews were linked to the Communist Party of America but by the 1950s this belief had largely vanished and was not longer a part of legitimate public discourse? This short, accessible book is ideal for use in undergraduate teaching in social movements, collective memory studies, political sociology, sociological social psychology, and other related courses.

Sticky Cotton

Author : Eric F. Hequet
Publisher : Texas Tech University Press
ISBN 13 : 9780896725904
Total Pages : 208 pages
Book Rating : 4.7/5 (259 download)

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Book Synopsis Sticky Cotton by : Eric F. Hequet

Download or read book Sticky Cotton written by Eric F. Hequet and published by Texas Tech University Press. This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential reference for anyone searching for ways to avoid or mitigate the problem of cotton stickiness.

Sticky Prices and Monetary Policy

Author : Jean Boivin
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Sticky Prices and Monetary Policy by : Jean Boivin

Download or read book Sticky Prices and Monetary Policy written by Jean Boivin and published by . This book was released on 2007 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper disentangles fluctuations in disaggregated prices due to macroeconomic and sectoral conditions using a factor-augmented vector autoregression estimated on a large data set. On the basis of this estimation, we establish eight facts: (1) Macroeconomic shocks explain only about 15% of sectoral inflation fluctuations; (2) The persistence of sectoral inflation is driven by macroeconomic factors; (3) While disaggregated prices respond quickly to sector-specific shocks, their responses to aggregate shocks are small on impact and larger thereafter; (4) Most prices respond with a significant delay to identified monetary policy shocks, and show little evidence of a "price puzzle," contrary to existing studies based on traditional VARs; (5) Categories in which consumer prices fall the most following a monetary policy shock tend to be those in which quantities consumed fall the least; (6) The observed dispersion in the reaction of producer prices is relatively well explained by the degree of market power; (7) Prices in sectors with volatile idiosyncratic shocks react rapidly to aggregate monetary policy shocks; (8) The sector-specific components of prices and quantities move in opposite directions.

Sticky Branding

Author : Jeremy Miller
Publisher : Dundurn
ISBN 13 : 1459728122
Total Pages : 277 pages
Book Rating : 4.4/5 (597 download)

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Book Synopsis Sticky Branding by : Jeremy Miller

Download or read book Sticky Branding written by Jeremy Miller and published by Dundurn. This book was released on 2015-01-10 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 Globe and Mail Bestseller 2016 Small Business Book Awards — Nominated, Marketing category Sticky Brands exist in almost every industry. Companies like Apple, Nike, and Starbucks have made themselves as recognizable as they are successful. But large companies are not the only ones who can stand out. Any business willing to challenge industry norms and find innovative ways to serve its customers can grow into a Sticky Brand. Based on a decade of research into what makes companies successful, Sticky Branding is your branding playbook. It provides ideas, stories, and exercises that will make your company stand out, attract customers, and grow into an incredible brand. Sticky Branding’s 12.5 guiding principles are drawn from hundreds of interviews with CEOs and business owners who have excelled within their industries.

Asset Prices and Monetary Policy

Author : John Y. Campbell
Publisher : University of Chicago Press
ISBN 13 : 0226092127
Total Pages : 444 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Asset Prices and Monetary Policy by : John Y. Campbell

Download or read book Asset Prices and Monetary Policy written by John Y. Campbell and published by University of Chicago Press. This book was released on 2008-11-15 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.

Sticky Faith

Author : Kara Powell
Publisher : Zondervan
ISBN 13 : 0310591864
Total Pages : 229 pages
Book Rating : 4.3/5 (15 download)

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Book Synopsis Sticky Faith by : Kara Powell

Download or read book Sticky Faith written by Kara Powell and published by Zondervan. This book was released on 2011-10-04 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sticky Faith delivers positive and practical ideas to nurture within your kids a living, loving faith that lasts a lifetime. Research indicates that almost half of high school seniors drift from their faith after graduation. Struck by this staggering statistic, and recognizing its ramifications, the Fuller Youth Institute (FYI) conducted the "College Transition Project" in an effort to identify the relationships and best practices that can set young people on a trajectory of lifelong faith and service. This easy-to-read guide presents both a compelling rationale and a powerful strategy to show parents how to actively encourage their children’s spiritual growth so that it will stick with them into adulthood and empower them to develop a living, lasting faith. Written by Fuller Youth Institute Executive Director Dr. Kara E. Powell and youth expert Chap Clark--authors known for the integrity of their research and the intensity of their passion for young people--Sticky Faith is geared to spark a movement that empowers adults to develop robust and long-term faith in kids of all ages. Further engage your family and church with the Sticky Faith Guide for Your Family, Sticky Faith curriculum, and Sticky Faith youth worker edition. Sticky Faith is also available in Spanish, Cómo criar jóvenes de fe sólida.

It's Not a Glass Ceiling, It's a Sticky Floor: Free Yourself From the Hidden Behaviors Sabotaging Your Career Success

Author : Rebecca Shambaugh
Publisher : McGraw Hill Professional
ISBN 13 : 0071633162
Total Pages : 240 pages
Book Rating : 4.0/5 (716 download)

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Book Synopsis It's Not a Glass Ceiling, It's a Sticky Floor: Free Yourself From the Hidden Behaviors Sabotaging Your Career Success by : Rebecca Shambaugh

Download or read book It's Not a Glass Ceiling, It's a Sticky Floor: Free Yourself From the Hidden Behaviors Sabotaging Your Career Success written by Rebecca Shambaugh and published by McGraw Hill Professional. This book was released on 2007-10-17 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turn the top 7 career breakers for women into career makers Statistically, more than one-third of Fortune 500 managers are women-and yet we represent barely five percent of the top earners among executives. Usually, we blame it on men-those “old boy” networks that don't typically welcome women into “the club.” But, according to leadership coach Rebecca Shambaugh, the real obstacle to women's advancement is not a “glass ceiling.” It's the self-imposed career blocks that prevent us from moving up. These are the 7 “sticky floors”: 1. Balancing Your Work and Life 2. Embracing “Good Enough” in Your Work 3. Making the Break 4. Making Your Words Count 5. Forming Your Own Board of Directors 6. Capitalizing on Your Political Savvy 7. Asking for What You Want Admit it: You've probably been “stuck” in at least one or more of these situations. Maybe you're a perfectionist who has trouble letting go of a task. Maybe you're so loyal to your company that you haven't explored other career options. Maybe you're afraid of speaking up in meetings. Or maybe you're so accommodating to others' needs that you never take care of your own. This book will show you how to get unstuck from these common traps. You'll discover how other successful women have managed to break out of middle management jobs to grab the top leadership positions. You'll hear hard-won advice from working mothers who also happen to be CEOs, including proven tricks of the trade when it comes to juggling career and family. You'll learn how to conquer your insecurities, transform your thinking, tailor your behavior, and demand the kind of professional recognition you deserve. There's even a section of fill-in charts and checklists at the end of the book to help you stay on track, in control, and on the rise. Once you've freed yourself from life's sticky floors, there's nowhere to go but up.

Sticky Feet

Author : Claire H. Hollweg
Publisher : World Bank Publications
ISBN 13 : 1464802637
Total Pages : 123 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Sticky Feet by : Claire H. Hollweg

Download or read book Sticky Feet written by Claire H. Hollweg and published by World Bank Publications. This book was released on 2014-07-03 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report quantifies labor mobility costs in developing countries and simulates the implied adjustment paths of employment and wages following a change in trade policy. High mobility costs are shown to reduce the potential gains to trade reform.