Distributional dynamics under smoothly state-dependent pricing
نویسندگان
چکیده
منابع مشابه
State-Dependent Pricing under Infrequent Information: A Unified Framework
We characterize optimal state-dependent pricing rules under various forms of infrequent information. In all models, infrequent price changes arise from the existence of a lump-sum “menu cost.” We entertain various alternatives for the source and nature of infrequent information. In two benchmark cases with continuously available information, optimal pricing rules are purely state-dependent. In ...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2011
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2011.11.006