Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.
Download or read book Imperfect Competition and Sticky Prices written by N. Gregory Mankiw and published by MIT Press. This book was released on 1991 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection.Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets. Contributors George A Akerlof, Costas Azariadis, Laurence Ball, Ben S. Bernanke, Mark Bits, Olivier J. Blanchard, Alan S. Blinder, John Bryant, Andrew S. Caplin, Dennis W. Carlton, Stephen G. Cecchetti, Russell Cooper, Peter A. Diamond, Gary Fethke, Stanley Fischer, Robert E. Hall, Oliver Hart, Andrew John, Nobuhiro Kiyotaki, Alan B. Krueger, David M. Lilien, Ian M. McDonald, N. David Mankiw, Arthur M. Okun, Andres Policano, David Romer, Julio J. Rotemberg, Garth Saloner, Carl Shapiro, Andrei Shleifer, Robert M. Solow, Daniel F. Spulber, Joseph E. Stiglitz, Lawrence H. Summers, John Taylor, Andrew Weiss, Michael Woodford, Janet L. Yellen
Download or read book The Fiscal Theory of the Price Level written by John H. Cochrane and published by Princeton University Press. This book was released on 2023-01-17 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of how government deficits and debt drive inflation Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when people don’t expect the government to fully repay its debts. The fiscal theory is well suited to today’s economy: Financial innovation undermines money demand, and central banks don’t control the money supply or aggressively change interest rates, invalidating classic theories, while large debts and deficits threaten inflation and constrain monetary policy. This book presents a comprehensive account of this important theory from one of its leading developers and advocates. John Cochrane aims to make fiscal theory useful as a conceptual framework and modeling tool, and for analyzing history and policy. He merges fiscal theory with standard models in which central banks set interest rates, giving a novel account of monetary policy. He generalizes the theory to explain data and make realistic predictions. For example, inflation decreases in recessions despite deficits because discount rates fall, raising the value of debt; specifying that governments promise to partially repay debt avoids classic puzzles and allows the theory to apply at all times, not just during periods of high inflation. Cochrane offers an extensive rethinking of monetary doctrines and institutions through the eyes of fiscal theory, and analyzes the era of zero interest rates and post-pandemic inflation. Filled with research by Cochrane and others, The Fiscal Theory of the Price Level offers important new insights about fiscal and monetary policy.
Download or read book Sticky Prices in the United States written by Julio J. Rotemberg and published by . This book was released on 1981 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pragmatic Capitalism written by Cullen Roche and published by Macmillan. This book was released on 2014-07-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insightful and original look at why understanding macroeconomics is essential for all investors
Download or read book Imperfect Competition and Sticky Prices written by N. Gregory Mankiw and published by MIT Press. This book was released on 1991 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection.Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets. Contributors George A Akerlof, Costas Azariadis, Laurence Ball, Ben S. Bernanke, Mark Bits, Olivier J. Blanchard, Alan S. Blinder, John Bryant, Andrew S. Caplin, Dennis W. Carlton, Stephen G. Cecchetti, Russell Cooper, Peter A. Diamond, Gary Fethke, Stanley Fischer, Robert E. Hall, Oliver Hart, Andrew John, Nobuhiro Kiyotaki, Alan B. Krueger, David M. Lilien, Ian M. McDonald, N. David Mankiw, Arthur M. Okun, Andres Policano, David Romer, Julio J. Rotemberg, Garth Saloner, Carl Shapiro, Andrei Shleifer, Robert M. Solow, Daniel F. Spulber, Joseph E. Stiglitz, Lawrence H. Summers, John Taylor, Andrew Weiss, Michael Woodford, Janet L. Yellen
Download or read book Sticky Prices in the United States Classic Reprint written by Julio J. Rotemberg and published by Forgotten Books. This book was released on 2018-02-08 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Sticky Prices in the United States Many of these authors state that prices are sticky because firms face costs of changing their prices. These costs range from the objective costs of printing new price lists to the costs borne by firms as they render their customers unhappy with recurrent price changes. It turns out that if one couples the assumption that firms face costs of changing prices with assumptions about functional forms, that the set of paths for output and prices that does not reject these assumptions is fairly small. In particular, the implied stochastic processes can be estimated. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Download or read book Sticky Exchange Rates and Flexible Prices written by Ms.Anne Marie Gulde and published by International Monetary Fund. This book was released on 1991-12-01 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks as the culprit. We test the crucial assumptions underlying the two models for the interwar period. Prices and exchange rates are found to be equally flexible. We hence reject the neokeynesian sticky price view for our sample period. In contrast, our results are consistent with, while not constituting evidence for, the neoclassical equilibrium approach.
Download or read book Sticky Church written by Larry Osborne and published by Zondervan. This book was released on 2008-12-30 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why closing the back door of your church is even more important than opening the front door wider. In Sticky Church, author and pastor Larry Osborne offers a time-tested strategy for doing so: sermon-based small groups that dig deeper into the weekend message and tightly velcro members to the ministry. It's a strategy that enabled Osborne's congregation to grow from a handful of people to one of the larger churches in the nation—without any marketing or special programming. Sticky Church tells the inspiring story of North Coast Church's phenomenal growth and offers practical tips for launching your own sermon-based small group ministry. Topics include: Why stickiness is so important Why most of our discipleship models don't work very well Why small groups always make a church more honest and transparent What makes groups grow deeper and sticker over time Sticky Church is an ideal book for church leaders who want to start or retool their small group ministry—and velcro their congregation to the Bible and each other.
Download or read book Sticky Cotton written by Eric F. Hequet and published by Texas Tech University Press. This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential reference for anyone searching for ways to avoid or mitigate the problem of cotton stickiness.
Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Download or read book Sticky Prices written by Mr.Esteban Jadresic and published by International Monetary Fund. This book was released on 1999-05-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a model of staggered price setting that allows for a flexible distribution of the durations of the prices underlying aggregate price behavior, and estimates it with U.S. data. When tested against an unrestricted version of this model, standard models of sticky prices are rejected. In contrast, a stylized model that assumes a trimodal distribution of price durations—with clusters on the first, fourth, and eighth quarter after prices are set—easily passes the same test. In addition, this model is able to replicate the dynamic behavior of inflation and output found in the data.
Download or read book It s Not a Glass Ceiling It s a Sticky Floor Free Yourself From the Hidden Behaviors Sabotaging Your Career Success written by Rebecca Shambaugh and published by McGraw Hill Professional. This book was released on 2007-10-17 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turn the top 7 career breakers for women into career makers Statistically, more than one-third of Fortune 500 managers are women-and yet we represent barely five percent of the top earners among executives. Usually, we blame it on men-those “old boy” networks that don't typically welcome women into “the club.” But, according to leadership coach Rebecca Shambaugh, the real obstacle to women's advancement is not a “glass ceiling.” It's the self-imposed career blocks that prevent us from moving up. These are the 7 “sticky floors”: 1. Balancing Your Work and Life 2. Embracing “Good Enough” in Your Work 3. Making the Break 4. Making Your Words Count 5. Forming Your Own Board of Directors 6. Capitalizing on Your Political Savvy 7. Asking for What You Want Admit it: You've probably been “stuck” in at least one or more of these situations. Maybe you're a perfectionist who has trouble letting go of a task. Maybe you're so loyal to your company that you haven't explored other career options. Maybe you're afraid of speaking up in meetings. Or maybe you're so accommodating to others' needs that you never take care of your own. This book will show you how to get unstuck from these common traps. You'll discover how other successful women have managed to break out of middle management jobs to grab the top leadership positions. You'll hear hard-won advice from working mothers who also happen to be CEOs, including proven tricks of the trade when it comes to juggling career and family. You'll learn how to conquer your insecurities, transform your thinking, tailor your behavior, and demand the kind of professional recognition you deserve. There's even a section of fill-in charts and checklists at the end of the book to help you stay on track, in control, and on the rise. Once you've freed yourself from life's sticky floors, there's nowhere to go but up.
Download or read book Ricky Sticky Fingers written by Julia Cook and published by National Center for Youth Issues. This book was released on 2012-08-15 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Meet Ricky! A cute little boy that just can't seem to figure out that stealing is wrong: When I see something that I really want, I think, "Hey, that could be mine!" So I look both ways, reach out my hand, and take it at just the right time. If I ever get caught, I just pretend that it wasn't me that took it. A quick little lie is just what I need, and lying helps me get through it! Taking things that I want to have at times can be very tricky. But there's no way that I can help myself, because all of my fingers are sticky! Ricky learns first-hand what it feels like to have something stolen from him. Then he uses the "GOOD" inside of himself to overtake the "BAD" and returns the items that he took from others. Finally, a book that confronts the issue of stealing and offers a strategy to curb the desire to steal! Through a fun and whimsical story, children will learn the concept of ownership and how it feels when someone doesn't respect what is yours. This book uses empathy in a powerful way to teach children that stealing is wrong.
Download or read book Sticky Feet written by Claire H. Hollweg and published by World Bank Publications. This book was released on 2014-07-03 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report quantifies labor mobility costs in developing countries and simulates the implied adjustment paths of employment and wages following a change in trade policy. High mobility costs are shown to reduce the potential gains to trade reform.
Download or read book Sticky Faith written by Kara Powell and published by Zondervan. This book was released on 2011-10-04 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sticky Faith delivers positive and practical ideas to nurture within your kids a living, loving faith that lasts a lifetime. Research indicates that almost half of high school seniors drift from their faith after graduation. Struck by this staggering statistic, and recognizing its ramifications, the Fuller Youth Institute (FYI) conducted the "College Transition Project" in an effort to identify the relationships and best practices that can set young people on a trajectory of lifelong faith and service. This easy-to-read guide presents both a compelling rationale and a powerful strategy to show parents how to actively encourage their children’s spiritual growth so that it will stick with them into adulthood and empower them to develop a living, lasting faith. Written by Fuller Youth Institute Executive Director Dr. Kara E. Powell and youth expert Chap Clark--authors known for the integrity of their research and the intensity of their passion for young people--Sticky Faith is geared to spark a movement that empowers adults to develop robust and long-term faith in kids of all ages. Further engage your family and church with the Sticky Faith Guide for Your Family, Sticky Faith curriculum, and Sticky Faith youth worker edition. Sticky Faith is also available in Spanish, Cómo criar jóvenes de fe sólida.
