The DOI matches its Crossref record; 16 of the 16 references it cites were found in a registry or an index.
State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output
Abstract
Economists have long suggested that nominal product prices are changed infrequently because of fixed costs. In such a setting, optimal price adjustment should depend on the state of the economy. Yet, while widely discussed, statedependent pricing has proved difficult to incorporate into macroeconomic models. This paper develops a new, tractable theoretical state-dependent pricing framework. We use it to study how optimal pricing depends on the persistence of monetary shocks, the elasticities of labor supply and goods demand, and the interest sensitivity of money demand.
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Cites
(2019) · AEA Papers and Proceedings · doi:10.1257/pandp.109.612 · Cited by 10,902
Staggered prices in a utility-maximizing framework
Calvo, G. A. (1983) · Journal of Monetary Economics · doi:10.1016/0304-3932(83)90060-0 · Cited by 7,901
Staggered Prices in a Utility-Maximizing Framework
(1996) · Money, Exchange Rates, and Output · doi:10.7551/mitpress/4758.003.0007 · Cited by 4,369
Aggregate Dynamics and Staggered Contracts
Taylor, J. B. (1980) · Journal of Political Economy · doi:10.1086/260845 · Cited by 2,435
The Solution of Linear Difference Models under Rational Expectations
Blanchard, O. J., & Kahn, C. M. (1980) · Econometrica · doi:10.2307/1912186 · Cited by 2,407
Indivisible labor and the business cycle
Hansen, G. D. (1985) · Journal of Monetary Economics · doi:10.1016/0304-3932(85)90039-x · Cited by 1,976
Monopolistic Competition and the Effects of Aggregate Demand
Blanchard, O. J., & Kiyotaki, N. (1987) · American Economic Review · Cited by 1,438
Nominal price rigidity, money supply endogeneity, and business cycles
Yun, T. (1996) · Journal of Monetary Economics · doi:10.1016/0304-3932(96)01246-9 · Cited by 1,232
Indivisible labor, lotteries and equilibrium
Rogerson, R. (1988) · Journal of Monetary Economics · doi:10.1016/0304-3932(88)90042-6 · Cited by 1,227
(1987) · Carnegie-Rochester Conference Series on Public Policy · doi:10.1016/0167-2231(87)90017-0 · Cited by 779
Cited by
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, L. J., Eichenbaum, M., & Evans, C. L. (2005) · Journal of Political Economy · doi:10.1086/426038 · Cited by 6,238
Some Evidence on the Importance of Sticky Prices
Bils, M., & Klenow, P. J. (2004) · Journal of Political Economy · doi:10.1086/422559 · Cited by 1,540
Five Facts about Prices: A Reevaluation of Menu Cost Models*
Nakamura, E., & Steinsson, J. (2008) · Quarterly Journal of Economics · doi:10.1162/qjec.2008.123.4.1415 · Cited by 1,520
Optimal Sticky Prices under Rational Inattention
Maćkowiak, B., & Wiederholt, M. (2009) · American Economic Review · doi:10.1257/aer.99.3.769 · Cited by 963
Are Sticky Prices Costly? Evidence from the Stock Market
Gorodnichenko, Y., & Weber, M. (2016) · American Economic Review · doi:10.1257/aer.20131513 · Cited by 369
Metadata
- Authors
- Dotsey, M., King, R. G., & Wolman, A. L.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1999-05-01
- Volume
- 114
- Issue
- 2
- Pages
- 655-690
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2064098724
- Cited by
- 770
- References
- 16
- FWCI
- 53.48
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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