| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17520 |
| 来源ID | Working Paper 17520 |
| Sticky Prices: A New Monetarist Approach | |
| Allen Head; Lucy Qian Liu; Guido Menzio; Randall Wright | |
| 发表日期 | 2011-10-20 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Why do some sellers set nominal prices that apparently do not respond to changes in the aggregate price level? In many models, prices are sticky by assumption; here it is a result. We use search theory, with two consequences: prices are set in dollars, since money is the medium of exchange; and equilibrium implies a nondegenerate price distribution. When the money supply increases, some sellers may keep prices constant, earning less per unit but making it up on volume, so profit stays constant. The calibrated model matches price-change data well. But, in contrast with other sticky-price models, money is neutral. |
| 主题 | Macroeconomics |
| URL | https://www.nber.org/papers/w17520 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575195 |
| 推荐引用方式 GB/T 7714 | Allen Head,Lucy Qian Liu,Guido Menzio,et al. Sticky Prices: A New Monetarist Approach. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17520.pdf（424KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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