| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22506 |
| 来源ID | Working Paper 22506 |
| On What States Do Prices Depend? Answers From Ecuador | |
| Craig Benedict; Mario J. Crucini; Anthony Landry | |
| 发表日期 | 2016-08-15 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | In this paper, we argue that differences in the cost structure across sectors play an important role in the decision of firms to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers. An important facet of our analysis is that the labor-cost share of retail production differs across goods and services in the consumption basket. For example, the price of gasoline at the retail pump is predicted to adjust more frequently and by more than the price of a haircut due to the high volatility in wholesale gasoline prices relative to the wages of unskilled labor, even when both retailers face a common menu cost. This modeling approach allows us to account for some of the cross-sectional differences observed in the frequency of price adjustments across goods. We apply this model to Ecuador to take advantage of inflation variations and the rich panel of monthly retail prices. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy ; International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w22506 |
| 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/580179 |
| 推荐引用方式 GB/T 7714 | Craig Benedict,Mario J. Crucini,Anthony Landry. On What States Do Prices Depend? Answers From Ecuador. 2016. |
| 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 | ||
| w22506.pdf（413KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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