| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22827 |
| 来源ID | Working Paper 22827 |
| Inflation Dynamics During the Financial Crisis | |
| Simon Gilchrist; Raphael Schoenle; Jae Sim; Egon Zakrajšek | |
| 发表日期 | 2016-11-14 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Using a novel dataset, which merges good-level prices underlying the PPI with the respondents’ balance sheets, we show that liquidity constrained firms increased prices in 2008, while their unconstrained counterparts cut prices. We develop a model in which firms face financial frictions while setting prices in customer markets. Financial distortions create an incentive for firms to raise prices in response to adverse financial or demand shocks. This reaction reflects the firms’ decisions to preserve internal liquidity and avoid accessing external finance, factors that strengthen the countercyclical behavior of markups and attenuate the response of inflation to fluctuations in output. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w22827 |
| 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/580501 |
| 推荐引用方式 GB/T 7714 | Simon Gilchrist,Raphael Schoenle,Jae Sim,et al. Inflation Dynamics During the Financial Crisis. 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 | ||
| w22827.pdf（542KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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