| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12638 |
| DP12638 Temporary Price Changes, Inflation Regimes and the Propagation of Monetary Shocks | |
| Francesco Lippi; Fernando Alvarez | |
| 发表日期 | 2018-01-22 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We analyze a sticky price model where firms choose a price plan, namely a set of two prices. Changing the plan entails a “menu cost”, but either price in the plan can be charged at any point in time. We analytically solve for the optimal policy and for the output response to a monetary shock. The setup rationalizes the coexistence of many price changes, most of which are temporary, with a modest flexibility of the aggregate price level. We present evidence consistent with the model implications using CPI data for Argentina across a wide range of inflation rates. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Sticky prices Menu cost models Temporary price changes Reference prices Price plans Price flexibility |
| URL | https://cepr.org/publications/dp12638 |
| 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/541450 |
| 推荐引用方式 GB/T 7714 | Francesco Lippi,Fernando Alvarez. DP12638 Temporary Price Changes, Inflation Regimes and the Propagation of Monetary Shocks. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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