(S,s) pricing: Does the heterogeneity wipe out the asymmetry on micro level?

Arbeitspapier

This paper presents a model of asymmetric (S,s) pricing. We investigate whether the asymmetry on micro level is carried over on macro level and what is the role of agent heterogeneity in the process. We look at two kinds of asymmetries: (i) asymmetric output responses monetary shocks and (ii) asymmetric responses to shocks during different phases of business cycle. We conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Economics Discussion Papers ; No. 2010-19

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Price Level; Inflation; Deflation ; Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
• Thema: (S,s) pricing ; heterogeneity ; asymmetry ; four-state shocks ; Preisrigidität ; Monopolistischer Wettbewerb ; Betriebliche Preispolitik ; Schock ; Geldpolitik ; Konjunktur ; Anpassungskosten ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Babutsidze, Zakaria
• Ereignis: Veröffentlichung
• (wer): Kiel Institute for the World Economy (IfW)
• (wo): Kiel
• (wann): 2010

Weitere Informationen

• Handle: http://hdl.handle.net/10419/36659
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ