This paper presents a new approach to assess the role of price mismeasurement in the productivity slowdown. I invert …-Douglas production function, output price mismeasurement only should affect the latter. Contrary to the mismeasurement hypothesis, I find …

Multi-sector sticky price models have surprising implications when durable goods have flexible prices. While in actual … flexible price industry for which the comovement problem is relevant. The underlying reason for the comovement problem is the …

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past … history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that … menu-cost model as a literal description of these firms' behavior, arguing instead that price stickiness arises from …

and relative price informativeness in dynamic environments with rich heterogeneity across investors (regarding signals … and non-stationary asset payoffs. We implement our methodology empirically, finding stock-specific measures of price … informativeness for U.S. stocks. We find a right-skewed distribution of price informativeness, measured in the form of the Kalman gain …

(RFS). Understanding the price dynamics of the D4 RIN is important for understanding the RFS because its price sets a … ceiling on the ethanol RIN (D6) and because some observers have suggested that RIN price fluctuations are too large to be … explained by economic theory. We use option pricing theory to develop a model of the D4 RIN in terms of its economic …

of the failed Waxman-Markey bill. First, the MAC is revealed by the price of traded permits. Second, the permit price is …