Microeconomic Price Adjustments and Inflation: Evidence from Spanish Sectoral Data
AbstractThe purpose of this paper is to illustrate the implications for aggregate price dynamics of alternative characterizations of microeconomic price adjustment policies. Within the hazard adjustment framework developed in Caballero and Engel (1993a), we present alternative models of individual price adjustment that are consistent with the predictions of the menu-cost models.
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Bibliographic InfoPaper provided by Banco de Espa�a in its series Banco de Espa�a Working Papers with number 9921.
Length: 34 pages
Date of creation: 1999
Date of revision:
INFLATION ; PRICES ; MARKET STRUCTURE;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- D49 - Microeconomics - - Market Structure and Pricing - - - Other
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.:
- Caballero, Ricardo J & Engel, Eduardo M R A, 1991.
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- Caballero, Ricardo J & Engel, Eduardo M R A, 1992. "Beyond the Partial-Adjustment Model," American Economic Review, American Economic Association, vol. 82(2), pages 360-64, May.
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NBER Working Papers
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- Anthony Yates, 1998. "Downward nominal rigidity and monetary policy," Bank of England working papers 82, Bank of England.
- Robert A. Amano & R. Tiff Macklem, 1997. "Menu Costs, Relative Prices, and Inflation: Evidence for Canada," Working Papers 97-14, Bank of Canada.
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