Sticky prices or sticky information?

Authors

  • Alessio Moro

DOI:

https://doi.org/10.13133/2037-3643/9881

Keywords:

Information, Prices

Abstract

Article originally published in the volume 60 issue 241 of Banca Nazionale del Lavoro Quarterly Review (also known as BNL Quarterly Review).

  

JEL Codes: D83, E12, E31, E52

References

BILS, M. and P.J. KLENOW (2004), "Some evidence on the importance of sticky prices", Journal of Political Economy, vol. 112, no. 5, pp. 947-85.

BLANCHARD, O.J. and J. GALÌ (2005), "Real wage rigidities and the New Keynesian Model", NBER Working Paper, no. 11806.

BLANCHARD, O.J. and N. KIYOTAKI (19B7). "Monopolistic competition and the effects on aggregate demand", American Economic Review, vol. 77, no. 4, pp. 647-66.

CALVO, G.A. (19B3). "Staggered prices in a utility maximizing framework", Journal of Monetary Economics, vol. 12, no. 3, pp. 383-9B.

CHARI, V.V., P.J. KEHOE and E.R. MCGRATTAN (2000), "Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?", Econometrica, vol. 68, no. 5, pp. 1151-79.

CLARIDA, R., J. GALÌ and M. GERUER (2000). "Monetary policy rules and macroeconomic stability: evidence and some theory", Quarterly Journal of Economics, vol. 115, no. 1, pp. 147-BO.

DIXIT, A.K. and J.E. STIGLITZ (1977), "Monopolistic competition and optimum product diversity", American Economic Review, vol. 67, no. 3, pp. 297-308.

DOTSEY, M. and R.G. KING (2006), "Pricing, production, and persistence", Journal of the European Economic Association, vol. 4, no. 5, pp. 893-928.

GALÌ, J. and M. GERUER (1999), "Inflation dynamics: a structural econometric analysis", Journal of Monetary Economics, vol. 44, no. 2, pp. 195-222.

GALÌ, J., J.O. LOPEZ-SALIDO and J. VALLES (2004), "Rule-of-thumb consumers and the design of interest rate rules", Journal of Money, Credit Et Banking, vol. 36, no. 4, pp. 739-63.

LUCAS, R.E. (1972), "Expectations and the neutrality of money", Journal of Economic Theory, vol. 4, no. 2, pp. 103-24.

MACKOWIAK, B. and M. WIEDERHOLT (2004), "Optimal sticky prices under rational inattention", manuscript, Humboldt University, Berlin.

MANKIW, N.G. and R. REIS (2002), "Sticky information versus sticky prices: a proposal to replace the new Keynesian Phillips curve", Quarterly Journal of Economics, vol. 117, no. 4, pp. 1295-328.

REIS, R. (2006), "Inattentive producers", Review of Economic Studies, vol. 73, no. 3, pp. 793-821.

SVEEN, T. and L. WEINKE (2005), "New perspectives on capital, sticky prices, and the Taylor principle", Journal of Economic Theory, vol. 123, no. I, pp. 21-39.

TAYLOR, J.B. (1980), "Aggregate dynamics and staggered contracts", Journal of Political conomy, vol. 88, no. 1, pp. 1-24.

TAYLOR, J.B. (1993), "Discretion versus policy rules in practice", Carnegie-Rochester Conference Series on Public Policy, vol. 39, pp.195-214.

TRABANDT, M. (2006), "Sticky information vs. sticky prices: a horse race in a OSGE framework", SSRN Working Paper.

WALSH, C.E. (2003), Monetary Theory and Policy, MIT Press, Cambridge.

WOODFORD, M. (2003), Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton University Press, Princeton.

Downloads

Published

2012-04-19

How to Cite

Moro, A. (2012). Sticky prices or sticky information?. PSL Quarterly Review, 60(241). https://doi.org/10.13133/2037-3643/9881

Issue

Section

Articles