| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6973 |
| DP6973 Delayed Action and Uncertain Targets. How Much Will Climate Policy Cost? | |
| Carlo Carraro; Alessandra Sgobbi; Valentina Bosetti; Massimo Tavoni | |
| 发表日期 | 2008-09-23 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | A striking fact about prices is the prevalence of "sales": large temporary price cuts followed by a return exactly to the former price. This paper builds a macroeconomic model with a rationale for sales based on firms facing consumers with different price sensitivities. Even if firms can vary sales without cost, monetary policy has large real effects owing to sales being strategic substitutes: a firm's incentive to have a sale is decreasing in the number of other firms having sales. Thus the flexibility of prices at the micro level due to sales does not translate into flexibility at the macro level. |
| 主题 | International Macroeconomics |
| 关键词 | monetary policy Nominal rigidities Sales |
| URL | https://cepr.org/publications/dp6973 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535810 |
| 推荐引用方式 GB/T 7714 | Carlo Carraro,Alessandra Sgobbi,Valentina Bosetti,et al. DP6973 Delayed Action and Uncertain Targets. How Much Will Climate Policy Cost?. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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