Staggered price setting with endogenous frequency of adjustment
AbstractThe classic models of staggered adjustment of Taylor and Blanchard takes the frequency of price or wage adjustment as exogenous. This paper develops a model in which the frequency of price changes in endogenous. It then uses the model to analyze the effects of changes in the parameters of the economy on the frequency of adjustment and the real effects of monetary shocks.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 32 (1990)
Issue (Month): 3 (March)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- David Romer, 1989. "Staggered Price Setting with Endogenous Frequency of Adjustment," NBER Working Papers 3134, National Bureau of Economic Research, Inc.
- David Romer., 1989. "Staggered Price Setting with Endogenous Frequency of Adjustment," Economics Working Papers 89-115, University of California at Berkeley.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ball, Laurence & Romer, David, 1989.
"The Equilibrium and Optimal Timing of Price Changes,"
Review of Economic Studies,
Wiley Blackwell, vol. 56(2), pages 179-98, April.
- Laurence Ball & David Romer, 1989. "The Equilibrium and Optimal Timing of Price Changes," NBER Working Papers 2412, National Bureau of Economic Research, Inc.
- Laurence Ball & David Romer, 1987. "The Equilibrium and Optimal Timing of Price Changes," NBER Working Papers 2432, National Bureau of Economic Research, Inc.
- Benabou, Roland, 1989.
"Optimal Price Dynamics and Speculation with a Storable Good,"
Econometric Society, vol. 57(1), pages 41-80, January.
- Benabou, Roland, 1987. "Optimal price dynamics and speculation with a storable good," CEPREMAP Working Papers (Couverture Orange) 8708, CEPREMAP.
- Ball, Laurence Markham, 1987. "Externalities from Contract Length," American Economic Review, American Economic Association, vol. 77(4), pages 615-29, September.
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