Monetary equilibrium and price stickiness: Causes, consequences and remedies
Author
Abstract
(This abstract was borrowed from another version of this item.)
Suggested Citation
DOI: 10.1007/s11138-011-0151-7
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Bagus, Philipp & Howden, David, 2011. "Monetary Equilibrium and Price Stickiness: Causes, Consequences and Remedies," MPRA Paper 79593, University Library of Munich, Germany.
References listed on IDEAS
- Carilli, Anthony M & Dempster, Gregory M, 2001. "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 14(4), pages 319-330, December.
- N. Gregory Mankiw, 1985. "Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly," The Quarterly Journal of Economics, Oxford University Press, vol. 100(2), pages 529-538.
- David Howden, 2010.
"Knowledge shifts and the business cycle: When boom turns to bust,"
The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 165-182, June.
- Howden, David, 2010. "Knowledge Shifts and the Business Cycle: When Boom Turns to Bust," MPRA Paper 79591, University Library of Munich, Germany.
- Selgin, George, 1994. "Free Banking and Monetary Control," Economic Journal, Royal Economic Society, vol. 104(427), pages 1449-1459, November.
- Ball, Laurence & Mankiw, N. Gregory, 1994.
"A sticky-price manifesto,"
Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 41(1), pages 127-151, December.
- Laurence Ball & N. Gregory Mankiw, 1994. "A sticky-price manifesto," Proceedings, Federal Reserve Bank of Dallas, issue Apr.
- Laurence Ball & N. Gregory Mankiw, 1994. "A Sticky-Price Manifesto," NBER Working Papers 4677, National Bureau of Economic Research, Inc.
- Rotemberg, Julio J, 1982. "Sticky Prices in the United States," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1187-1211, December.
- Robert J. Barro, 1982. "United States Inflation and the Choice of Monetary Standard," NBER Chapters, in: Inflation: Causes and Effects, pages 99-110, National Bureau of Economic Research, Inc.
- Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
- Philipp Bagus, 2008. "Monetary policy as bad medicine: The volatile relationship between business cycles and asset prices," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 21(4), pages 283-300, December.
- Friedrich von Hayek, 1975. "A Discussion with Friedrich A. von Hayek," Books, American Enterprise Institute, number 920817, September.
- Horwitz, Steven, 1996. "Capital Theory, Inflation and Deflation: The Austrians and Monetary Disequilibrium Theory Compared," Journal of the History of Economic Thought, Cambridge University Press, vol. 18(2), pages 287-308, October.
- Lawrence H. White, 2008. "Did Hayek and Robbins Deepen the Great Depression?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 751-768, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Philipp Bagus & David Howden, 2012.
"Monetary equilibrium and price stickiness: A rejoinder,"
The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 271-277, September.
- Bagus, Philipp & Howden, David, 2012. "Monetary Equilibrium and Price Stickiness: A Rejoinder," MPRA Paper 79597, University Library of Munich, Germany.
- Van Den Hauwe, Ludwig, 2017. "Monetary Constitutionalism: Some Recent Developments," MPRA Paper 83052, University Library of Munich, Germany.
- Philipp Bagus & David Howden, 2012.
"Still unanswered quibbles with fractional reserve free banking,"
The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(2), pages 159-171, June.
- Bagus, Philipp & Howden, David, 2012. "Still Unanswered Quibbles with Fractional Reserve Free Banking," MPRA Paper 79596, University Library of Munich, Germany.
- Campos Dias de Sousa, Ricardo Emanuel & Howden, David, 2015. "The Efficient Market Conjecture," MPRA Paper 79792, University Library of Munich, Germany.
- Joshua R. Hendrickson, 2015. "Monetary equilibrium," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(1), pages 53-73, March.
- Howden, David, 2013. "The Quantity Theory of Money," MPRA Paper 79601, University Library of Munich, Germany.
- Philipp Bagus & Amadeus Gabriel & David Howden, 2018.
"On the Necessary and Sufficient Conditions for Legitimate Banking Contracts,"
Journal of Business Ethics, Springer, vol. 147(3), pages 669-678, February.
- Bagus, Philipp & Gabriel, Amadeus & Howden, David, 2018. "On the Necessary and Sufficient Conditions for Legitimate Banking Contracts," MPRA Paper 84833, University Library of Munich, Germany.
- Philipp Bagus & Amadeus Gabriel & David Howden, 2018. "On the Necessary and Sufficient Conditions for Legitimate Banking Contracts," Post-Print hal-02634058, HAL.
- David Howden, 2013.
"Separating the Wheat from the Chaff: Icelandic and Irish Policy Responses to the Banking Crisis,"
Economic Affairs, Wiley Blackwell, vol. 33(3), pages 348-360, October.
- Howden, David, 2013. "Separating the Wheat from the Chaff: Icelandic and Irish Policy Responses to the Banking Crisis," MPRA Paper 79600, University Library of Munich, Germany.
- William Luther & Alexander Salter, 2012. "Monetary equilibrium and price stickiness reconsidered: A reply to Bagus and Howden," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 263-269, September.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Bagus, Philipp & Howden, David, 2011. "Unanswered Quibbles with Fractional Reserve Free Banking," MPRA Paper 79594, University Library of Munich, Germany.
- Severin Borenstein & Andrea Shepard, 2002.
"Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets,"
RAND Journal of Economics, The RAND Corporation, vol. 33(1), pages 116-139, Spring.
- Severin Borenstein & Andrea Shepard, 1996. "Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets," NBER Working Papers 5468, National Bureau of Economic Research, Inc.
- Severin Borenstein & Andrea Shepard, 1996. "Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets," Working Papers _001, University of California at Berkeley, Haas School of Business.
- Mark J. Zbaracki & Mark Ritson & Daniel Levy & Shantanu Dutta & Mark Bergen, 2004.
"Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets,"
The Review of Economics and Statistics, MIT Press, vol. 86(2), pages 514-533, May.
- Zbaracki, Mark J. & Ritson, Mark & Levy, Daniel & Dutta, Shantanu & Bergen, Mark, 2004. "Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets," EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics, pages 514-533.
- Mark Zbaracki & Mark Ritson & Daniel Levy & Shantanu Dutta & Mark Bergen, 2003. "Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets," Working Papers 2003-07, Bar-Ilan University, Department of Economics.
- Mark Zbaracki & Mark Ritson & Daniel Levy & Shantanu Dutta & Mark Bergen, 2004. "Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets," Post-Print hal-02386836, HAL.
- Mark Zbaracki & Mark Ritson & Daniel Levy & Shantanu Dutta & Mark Bergen, 2004. "Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets," Macroeconomics 0402020, University Library of Munich, Germany.
- Bagus, Philipp & Howden, David, 2010. "Fractional Reserve Banking: Some Quibbles," MPRA Paper 79590, University Library of Munich, Germany.
- Mark Zbaracki & Mark Bergen & Shantanu Dutta & Daniel Levy & Mark Ritson, 2005.
"Beyond the Cost of Price Adjustment: Investments in Pricing Capital,"
Macroeconomics
0505013, University Library of Munich, Germany.
- Mark Zbaracki & Mark Bergen & Daniel Levy & Mark Ritson, 2005. "Beyond the Cost of Price Adjustment: Investments in Pricing Capital," Working Papers 2005-03, Bar-Ilan University, Department of Economics.
- Ireland, Peter N., 2003.
"Endogenous money or sticky prices?,"
Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1623-1648, November.
- Peter N. Ireland, 2001. "Endogenous Money or Sticky Prices?," Boston College Working Papers in Economics 499, Boston College Department of Economics.
- Peter N. Ireland, 2002. "Endogenous Money or Sticky Prices?," NBER Working Papers 9390, National Bureau of Economic Research, Inc.
- Levy, Daniel & Dutta, Shantanu & Bergen, Mark & Venable, Robert, 1998.
"Price Adjustment at Multiproduct Retailers,"
EconStor Open Access Articles, ZBW - Leibniz Information Centre for Economics, pages 81-120.
- Daniel Levy & Shantanu Dutta & Mark Bergen & Robert Venable, 1998. "Price adjustment at multiproduct retailers," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 19(2), pages 81-120.
- Daniel Levy & Shantanu Dutta & Mark Bergen & Robert Venable, 1998. "Price adjustment at multiproduct retailers," Post-Print hal-02385586, HAL.
- Daniel Levy & Shantanu Dutta & Mark Bergen & Robert Venable, 2005. "Price Adjustment at Multiproduct Retailers," Industrial Organization 0505005, University Library of Munich, Germany.
- N. Gregory Mankiw & Ricardo Reis, 2002.
"Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve,"
The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1295-1328.
- N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky information versus sticky prices: a proposal to replace the New-Keynesian Phillips curve," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
- N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," NBER Working Papers 8290, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Harvard Institute of Economic Research Working Papers 1922, Harvard - Institute of Economic Research.
- Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
- Bagus, Philipp & Gabriel, Amadeus & Howden, David, 2014.
"Causes and Consequences of Inflation,"
MPRA Paper
79608, University Library of Munich, Germany.
- Philipp Bagus & David Howden & Amadeus Gabriel, 2014. "Causes and Consequences of Inflation," Post-Print hal-02634016, HAL.
- Malte Tobias Kähler, 2011. "From German Rules to European Discretion: Policy’s Slippery Slope," Chapters, in: David Howden (ed.), Institutions in Crisis, chapter 9, Edward Elgar Publishing.
- Ronald Schettkat & Rongrong Sun, 2009.
"Monetary policy and European unemployment,"
Oxford Review of Economic Policy, Oxford University Press, vol. 25(1), pages 94-108, Spring.
- Ronald Schettkat & Rongrong Sun, 2008. "Monetary Policy and European Unemployment," Schumpeter Discussion Papers sdp08002, Universitätsbibliothek Wuppertal, University Library.
- Mankiw, N Gregory, 2001.
"The Inexorable and Mysterious Tradeoff between Inflation and Unemployment,"
Economic Journal, Royal Economic Society, vol. 111(471), pages 45-61, May.
- N. Gregory Mankiw, 2000. "The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment," NBER Working Papers 7884, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw, 2000. "The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment," Harvard Institute of Economic Research Working Papers 1905, Harvard - Institute of Economic Research.
- Sabri Çelik & Alp Muharremoglu & Sergei Savin, 2009. "Revenue Management with Costly Price Adjustments," Operations Research, INFORMS, vol. 57(5), pages 1206-1219, October.
- Jaylson Jair da Silveira & Gilberto Tadeu Lima, 2007. "Regimes De Ajustamento Nominal Em Uma Macrodinâmica Evolucionária," Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting] 021, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Pierre Fortin, 2003.
"Issues and Commentaries Issues et commentaires Keynes Resurrected,"
Canadian Public Policy, University of Toronto Press, vol. 29(2), pages 253-265, June.
- Pierre Fortin, 2003. "Keynes resurrected," Cahiers de recherche du Département des sciences économiques, UQAM 20-21, Université du Québec à Montréal, Département des sciences économiques.
- Sascha A. Weber & Sven M. Anders, 2007.
"Price rigidity and market power in German retailing,"
Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(7), pages 737-749.
- Weber, Sascha A. & Anders, Sven M., 2005. "Price Rigidity and Market Power in German Retailing," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24721, European Association of Agricultural Economists.
- Weber, Sascha A. & Anders, Sven, 2007. "Price Rigidity and Market Power in German Retailing," Discussion Papers 31, Justus Liebig University Giessen, Center for international Development and Environmental Research (ZEU).
- Slade, Margaret E., 1999. "Sticky prices in a dynamic oligopoly: An investigation of (s,S) thresholds," International Journal of Industrial Organization, Elsevier, vol. 17(4), pages 477-511, May.
- Silvia Fabiani & Martine Druant & Ignacio Hernando & Claudia Kwapil & Bettina Landau & Claire Loupias & Fernando Martins & Thomas Mathä & Roberto Sabbatini & Harald Stahl & Ad Stokman, 2006.
"What Firms' Surveys Tell Us about Price-Setting Behavior in the Euro Area,"
International Journal of Central Banking, International Journal of Central Banking, vol. 2(3), September.
- Fabiani, S. & Druant, M. & Hernando, I. & Kwapil, C. & Landau, B. & Loupias, C. & Martins, F. & Mathä, T. & Sabbatini, R. & Stahl, H. & Stockman, A., 2005. "The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence," Working papers 135, Banque de France.
- Fernando Martins & S. Fabiani & M. Druant & I. Hernando & C. Kwapil & B. Landau & C. Loupias & T. Mathä & R. Sabbatini & H. Stahl & A. Stokman, 2005. "The Pricing Behaviour of Firms in the Euro Area: New Survey Evidence," Working Papers w200510, Banco de Portugal, Economics and Research Department.
- Silvia Fabiani & Martine Druant & Ignacio Hernando & Claudia Kwapil & Bettina Landau & Claire Loupias & Fernando Martins & Thomas Mathä & Roberto Sabbatini & Harald Stahl & Ad Stokman, 2005. "The pricing behaviour of firms in the Euro area: new survey evidence," Working Papers 0536, Banco de España;Working Papers Homepage.
- S. Fabiana & M. Druant & I. Hernando & C. Kwapil & B. Landau & C. Loupias & F. Martins & T. Mathä & R. Sabbatini & H. Stahl & A. Stokman, 2005. "The Pricing Behaviour of Firms in the Euro Area New Survey Evidence," DNB Working Papers 058, Netherlands Central Bank, Research Department.
- Fabiani, Silvia & Stahl, Harald & Kwapil, Claudia & Druant, Martine & Stokman, Ad C.J. & Landau, Bettina & Sabbatini, Roberto & Mathä, Thomas Y. & Loupias, Claire & Hernando, Ignacio & Martins, Fernan, 2005. "The pricing behaviour of firms in the euro area: new survey evidence," Working Paper Series 535, European Central Bank.
- S. Fabiani & M. Druant & I. Hernando & C. Kwapil & B. Landau & C. Loupias & F. Martins & T. Mathä & R. Sabbatini & H. Stahl & A. Stokman, 2005. "The pricing behaviour of firms in the euro area : new survey evidence," Working Paper Research 76, National Bank of Belgium.
- Fabiani, Silvia & Druant, Martine & Hernando, Ignacio & Kwapil, Claudia & Landau, Bettina & Loupias, Claire & Martins, Fernando & Matha, Thomas & Sabbatini, Roberto & Stahl, Harald & Stokman, Ad, 2006. "What Firms' Surveys Tell Us about Price-Setting Behavior in the Euro Area," MPRA Paper 808, University Library of Munich, Germany.
- Philipp Bagus & David Howden, 2012.
"Monetary equilibrium and price stickiness: A rejoinder,"
The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 271-277, September.
- Bagus, Philipp & Howden, David, 2012. "Monetary Equilibrium and Price Stickiness: A Rejoinder," MPRA Paper 79597, University Library of Munich, Germany.
- Herrmann, Roland & Moeser, Anke, 2003.
"Price Variability Or Rigidity In The Food-Retailing Sector? Theoretical Analysis And Evidence From German Scanner Data,"
Discussion Papers
26464, University of Giessen, Center for International Development and Environmental Research.
- Herrmann, Roland & Moser, Anke, 2003. "Price Variability Or Rigidity In The Food-Retailing Sector? Theoretical Analysis And Evidence From German Scanner Data," 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa 25867, International Association of Agricultural Economists.
- Herrmann, Roland & Möser, Anke, 2003. "Price variability or rigidity in the food-retailing sector? Theoretical analysis and evidence from German scanner data," Discussion Papers 11, Justus Liebig University Giessen, Center for international Development and Environmental Research (ZEU).
More about this item
Keywords
Rigidities; Sticky prices; Monetary equilibrium theory; Free banking; 100% Reserve banking; E52; E58;All these keywords.
JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:revaec:v:24:y:2011:i:4:p:383-402. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Springer Nature Abstracting and Indexing). General contact details of provider: http://www.springer.com .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.