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Formal Approaches

Joseph E. Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar

in Stability with Growth: Macroeconomics, Liberalization and Development

Published in print:
2006
Published Online:
September 2006
ISBN:
9780199288144
eISBN:
9780191603884
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199288143.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter discusses advances in formal economic theory by examining how different positions among economists arise from their different assumptions and models. The discussion focuses on ways in ... More


Why Are Prices Sticky?: Evidence from an Ad Hoc Survey in Belgium

Luc Aucremanne and Martine Druant

in Pricing Decisions in the Euro Area: How Firms Set Prices and Why

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195309287
eISBN:
9780199783939
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195309287.003.0005
Subject:
Economics and Finance, Econometrics

This chapter reports the results of a survey on price setting behavior conducted in 2004 among 2,000 Belgian firms. The results clearly deviate from a situation of perfect competition and show that ... More


What Quantitative Micro Data Reveal about Price Setting Behavior

Roberto Sabbatini, Luis J. Álvarez, Emmanuel Dhyne, Marco Hoeberichts, Hervé Le Bihan, Patrick Lünnemann, Fernando Martins, Fabio Rumler, Harald Stahl, Philip Vermeulen, Giovanni Veronese, and Jouko Vilmunen

in Pricing Decisions in the Euro Area: How Firms Set Prices and Why

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195309287
eISBN:
9780199783939
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195309287.003.0015
Subject:
Economics and Finance, Econometrics

This chapter summarizes the vast evidence on price setting based on micro consumer and producer price data obtained for euro area countries. This analysis captures features of price behavior that ... More


Asymmetries in Price Setting: Some Evidence from French Survey Data

Claire Loupias and Roland Ricart

in Pricing Decisions in the Euro Area: How Firms Set Prices and Why

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195309287
eISBN:
9780199783939
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195309287.003.0006
Subject:
Economics and Finance, Econometrics

This chapter reports the results on price setting asymmetries of French manufacturing companies from a survey conducted by the Banque de France during winter 2003–04. Price increases are more likely ... More


A Comparison Based on International Survey Evidence

Patrick Lünnemann and Thomas Mathä

in Pricing Decisions in the Euro Area: How Firms Set Prices and Why

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195309287
eISBN:
9780199783939
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195309287.003.0013
Subject:
Economics and Finance, Econometrics

This chapter compares internationally the available survey evidence of firms' price setting behavior. It reports a number of remarkable similarities across countries. Firms typically operate in ... More


Price Reactions to Demand and Cost Shocks: Survey Evidence from Austrian Firms

Claudia Kwapil, Josef Baumgartner, and Johann Scharler

in Pricing Decisions in the Euro Area: How Firms Set Prices and Why

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195309287
eISBN:
9780199783939
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195309287.003.0004
Subject:
Economics and Finance, Econometrics

This chapter investigates price rigidity after cost and demand shocks in Austria. We find that the average time lag between a shock and the price adjustment is four to six months. Furthermore, firms' ... More


Loss Aversion

Spiegler Ran

in Bounded Rationality and Industrial Organization

Published in print:
2011
Published Online:
September 2011
ISBN:
9780195398717
eISBN:
9780199896790
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195398717.003.0009
Subject:
Economics and Finance, Behavioural Economics

This chapter analyzes monopoly and duopoly pricing when consumers display loss aversion. It assumes that consumers’ reference point is determined by their expectations. First, the model is applied to ... More


The Benchmark Paradigm

Assaf Razin

in Understanding Global Crises: An Emerging Paradigm

Published in print:
2015
Published Online:
May 2016
ISBN:
9780262028592
eISBN:
9780262327701
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028592.003.0011
Subject:
Economics and Finance, International

The benchmark New Keynesian model comprises three globalization features:1. International labor mobility: both inward and outward movements of labor. The presumption is that labor flows tend to ... More


Traditional Topics

Stefan Homburg

in A Study in Monetary Macroeconomics

Published in print:
2017
Published Online:
August 2017
ISBN:
9780198807537
eISBN:
9780191845451
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198807537.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

Chapter 3 covers traditional topics of monetary macroeconomics. To acquaint readers with the present methods, it starts with conversant material, such as superneutrality of money, the Tobin effect, ... More


The Challenge of Trade Adjustment in Greece

Costas Arkolakis, Aristos Doxiadis, and Galenianos Manolis

in Beyond Austerity: Reforming the Greek Economy

Published in print:
2017
Published Online:
May 2018
ISBN:
9780262035835
eISBN:
9780262339216
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035835.003.0003
Subject:
Economics and Finance, International

Greece's trade deficit declined by 10 percent of gross domestic product (GDP) between 2007 and 2012, removing one of the great economic imbalances of the pre-crisis years. However, this reduction ... More


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