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In this paper, we argue that differences in the cost structures across sectors play an important role in firms' decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers. An important facet of our analysis...
Persistent link: https://www.econbiz.de/10011536493
We study the cyclical properties of sales, regular price changes and average prices paid by consumers (effective prices) using data on prices and quantities sold for numerous retailers across many U.S. metropolitan areas. Inflation in the effective prices paid by consumers declines significantly...
Persistent link: https://www.econbiz.de/10010319675
We study the cyclical properties of sales, regular price changes and average prices paid by consumers (“effective” prices) using data on prices and quantities sold for numerous retailers across many U.S. metropolitan areas. Inflation in the effective prices paid by consumers declines...
Persistent link: https://www.econbiz.de/10010601647
We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) using data on prices and quantities sold for numerous retailers across many U.S. metropolitan areas. Inflation in the effective prices paid by consumers declines...
Persistent link: https://www.econbiz.de/10009690837
Commodity prices have increased dramatically and persistently over the past several years, followed by a sharp reversal in recent months. These large and persistent movements in commodity prices raise questions about their implications for global inflation. The process of globalization has...
Persistent link: https://www.econbiz.de/10010289678
Commodity prices have increased dramatically and persistently over the past several years, followed by a sharp reversal in recent months. These large and persistent movements in commodity prices raise questions about their implications for global inflation. The process of globalization has...
Persistent link: https://www.econbiz.de/10005808269
This paper is part of a discussion between CEPR and the International Monetary Fund (IMF) regarding CEPR’s paper, “IMF-Supported Macroeconomic Policies and the World Recession: A Look at Forty-One Borrowing Countries.” An IMF representative presented a response to that paper at an October...
Persistent link: https://www.econbiz.de/10008545821
This paper finds that 31 of 41 of countries with current International Monetary Fund (IMF) agreements have been subjected to pro-cyclical macroeconomic policies that, during the current global recession, would be expected to have exacerbated economic slowdowns.
Persistent link: https://www.econbiz.de/10008545833
The IMF’s most recent World Economic Outlook (WEO), published last week, projects world economic growth will slow, from 4.8 percent in 2010 to 4.2 percent next year. Throughout the report, there are numerous concerns expressed about the “fragility” of the global economic recovery. The...
Persistent link: https://www.econbiz.de/10008671783
We provide an updated evaluation of the value of various measures of core inflation that could be used in the conduct of monetary policy. We find that the Bank of Canada's current preferred measures of core inflation-CPI-trim, CPI-median and CPI-common-continue to outperform alternative core...
Persistent link: https://www.econbiz.de/10012388829