Inflation an Asymmetric Price Adjustment
This paper uses a unique micro data set to test for the presence of price asymmetries at the firm level. We find that firm pricing is indeed asymmetric, as Tobin (1972) suggested. Moreover, there is strong evidence to support Ball and Mankiw's (1994) suggestion that firm price asymmetry is dependent on inflation.
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|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: Purdue University, Center for International Business Education and Research, Krannert Graduate School of Management, 1310 Krannert Building West Lafayette, Indiana 47907-1310.|
Web page: http://www.krannert.purdue.edu/
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