Co-Movement in Sticky Price Models with Durable Goods

نویسندگان
چکیده

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

International Trade in Durable Goods in Sticky Price Models

Engel and Wang (2008) argue that trade in durable goods is important for international real-businesscycle models to replicate the behavior of real imports and exports. We extend such a model with Calvostyle price stickiness. We find that the model with producer currency pricing (PCP) for investment goods and local currency pricing (LCP) for durable consumption performs better than the model wit...

متن کامل

Do Flexible Durable Goods Prices Undermine Sticky Price Models?

The “neoclassical synthesis” sticky price model exhibits strange behavior when augmented with markets for durable goods with flexible prices. While in the data the output of durable goods responds strongly and positively to a loosening of monetary policy, in dynamic general equilibrium models a monetary expansion causes the output of flexibly priced durables to contract. In an instructive speci...

متن کامل

Intermittent Purchases and Welfare-Based Price Deflators for Durable Goods

The consensus among inflation watchers is that biases in official price indexes like the consumer price index overstate true inflation. We identify a new source of bias that works in the other direction. In particular, we use a simple dynamic model for durable goods—one type of good typically purchased intermittently—to derive equivalent variations and a true COL index. We show that, all else h...

متن کامل

Evaluating Calvo-Style Sticky Price Models∗

This paper assesses the empirical performance of Calvo-style sticky goods price models. We argue that Calvo-style models in which firms update non-reoptimized prices to lagged inflation are consistent with the aggregate data in a statistical sense. We then investigate whether these models imply plausible degrees of inertia in price setting behavior by firms. We find that these model do, but onl...

متن کامل

competitive supply of durable goods with stochastic fluctuation in stuck

this paper presents a theoretical model in order to determine tile expected rate of durable good`s supply over time. the social plaliner maximizes tile sum of the discount ed net benefit. subject to the stochastic fluctuation in the stock of durable goods. it turns out that a social planner increases the expected rate of supply since uncertainty increases the user's loss from the view poin...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: SSRN Electronic Journal

سال: 2006

ISSN: 1556-5068

DOI: 10.2139/ssrn.1022184