A state-dependent model of intermediate goods pricing
By: Brent Neiman
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16283; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16283.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Recent analyses of transaction-level datasets have generated new stylized facts on price setting and greatly influenced the empirical open- and closed-economy macroeconomics literatures.  This work has uncovered marked heterogeneity in price stickiness, demonstrated that even non-zero price changes do not fully "pass through" exchange rate shocks, and offered evidence of synchronization in the timing of price changes.  Further, intrafirm prices have been shown to differ from arm's length prices in each of these characteristics.  This paper develops a state-dependent model of intermediate goods pricing, which allows for arm's length and intrafirm transactions, and is capable of generating these empirical pricing patterns"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 9/28/2010.

Includes bibliographical references.

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