A hybrid sticky-price and sticky-information modelThis paper shows that a hybrid of the sticky-price and sticky-information models of price adjustment is able to deliver a hump-shaped inflation response to monetary shocks without counterfactually implying, as in Mankiw and Reis (2002) or Altig et al....
In economic theory, a key role in the...... This paper lays the groundwork for a model that has been suggested as an answer to this question in, particularly, Arrow [Toward a theory of price adjustment, in: M....
Customer anger at price increases, changes in the frequency of price adjustment and monetary policy... This can explain price rigidity, though its implications are not identical to those of existing models of costly price adjustment....
On some price adjustment schemes by masanao aoki*The paper compares a stochastic approximation price adjustment equation with three Bayesian pricing schemes, of which two hare one-period criterion functions and the third has a multi-period criterion fimction including a...
