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Based upon a large fraction of the price records used for computing the French CPI, we document consumer price rigidity in France. We first provide a methodological discussion of issues involved in estimating average price duration with micro-data. The average duration of prices in the sectors...
Persistent link: https://www.econbiz.de/10005056512
accompanied by large scale debt accumulation and inflation: After Napoleon’s final defeat at Waterloo in 1815, the debt to GDP …
Persistent link: https://www.econbiz.de/10011096086
The decline in the sensitivity of inflation to domestic slack observed in developed countries over the last 25 years … also the bigger ones) enter the export market. They tend to transmit less marginal cost fluctuations into inflation because … the proportion of large firms reduces the pass-through of marginal cost into inflation. …
Persistent link: https://www.econbiz.de/10011196011
This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a “shadow banking system” that each...
Persistent link: https://www.econbiz.de/10010815967
Using a Bayesian structural vector autoregression (TVP-SVAR) with time-varying parameters and volatility we investigate … monetary policy in the United States, in particular its interaction with the formation of inflation expectations and the … linkages between monetary policy, inflation expectations and the behaviour of CPI inflation. We use Livingston Survey data for …
Persistent link: https://www.econbiz.de/10010816004
sales; (iv) price changes related to sales and product replacements are less driven by inflation variations than regular … price changes; (v) the monthly inflation rate is correlated to the frequencies of price decreases and increases. The … volatility in the sizes of price increases and decreases is mainly due to sales and promotions; (vi) during the Great Recession …
Persistent link: https://www.econbiz.de/10010816022
This paper studies firms' price-setting decision during a currency changeover. Buyers' difficulties with the new nominal price level create incentives to raise prices temporarily but doing so comes at the risk of damaging a seller's reputation in the long run. We model firms' trade-off and study...
Persistent link: https://www.econbiz.de/10010534896
Dans ce papier, nous comparons quatre indicateurs de l'inflation sous-jacente: l'approche par exclusion de postes, les … estimateurs "a influence limitee" comme l'inflation mediane, les mesures issues d'un VAR structurel et une mesure tiree d …
Persistent link: https://www.econbiz.de/10005036181
'une faible inflation (2%) à une inflation nulle pour les économies française, allemande, britannique, espagnole et américaine … l'indexation imparfaite du système fiscal. Des études récentes ont montré qu'un passage d'une inflation de 2% à la …
Persistent link: https://www.econbiz.de/10005036197
We examine the effect of the minimum wage on restaurant prices. For that purpose, we estimate a price rigidity model by exploiting a unique dataset of individual price quotes used to calculate the Consumer Price Index in France. We find a positive and significant impact of the minimum wage on...
Persistent link: https://www.econbiz.de/10005036214