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  1. Price flexibility in British supermarkets
    moderation and recession
    Author: Dixon, Huw; Seaton, Jonathan S.; Waterson, Michael
    Published: 2014
    Publisher:  Univ. of Warwick, Dep. of Economics, Coventry

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Inter-library loan:
    No inter-library loan
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Warwick economic research papers ; 1041
    Subjects: Micro pricing; price flexibility; regular prices; menu costs
    Scope: Online-Ressource (68 S.), graph. Darst.
  2. Strategic complementarities and nominal rigidities
    Author: König, Philipp Johann; Meyer-Gohde, Alexander
    Published: 2014
    Publisher:  SFB 649, Economic Risk, Berlin

    We reconsider the canonical model of price setting with menu costs by Ball and Romer (1990). Their original model exhibits multiple equilibria for nominal aggregate demand shocks of intermediate size. By abandoning Ball and Romer's (1990) assumption... more

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 86 (2014,54)
    Inter-library loan:
    No inter-library loan

     

    We reconsider the canonical model of price setting with menu costs by Ball and Romer (1990). Their original model exhibits multiple equilibria for nominal aggregate demand shocks of intermediate size. By abandoning Ball and Romer's (1990) assumption that demand shocks are common knowledge among price setters, we derive a unique symmetric threshold equilibrium where agents adjust prices whenever the demand shock falls outside the thresholds. The comparative statics of this threshold may differ from the one that gives rise to maximal nominal rigidity examined by Ball and Romer (1990). In contrast to their analysis, we find that a decrease in real rigidities can be associated with an increase in nominal rigidities due to the endogenous adjustment of agents' beliefs regarding the aggregate price level.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/103799
    Series: SFB 649 discussion paper ; 2014-054
    Subjects: menu costs; global games
    Scope: Online-Ressource (25 S.), graph. Darst.