Asymmetric price adjustment in a menu-cost model

被引：31
|
作者：
Madsen, JB [1 ]
Yang, BZ
机构：
[1] Univ Western Australia, Dept Econ, Nedlands, WA 6907, Australia
[2] Minot State Univ, Div Social Sci, Minot, ND 58707 USA
来源：
JOURNAL OF ECONOMICS-ZEITSCHRIFT FUR NATIONALOKONOMIE | 1998年 / 68卷 / 03期
关键词：
menu costs; asymmetric price adjustment; panel data; manufacturing prices; retail prices;
D O I：
10.1007/BF01237197
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper we demonstrate that the menu-cost model implies that prices adjust asymmetrically to nominal-demand shocks and that the asymmetry is linked to the elasticity of demand as well as menu costs. These implications are tested using manufacturing and retailing panel data for the OECD countries. The empirical results give some support for the menu-cost model.
引用
收藏
页码：295 / 309
页数：15
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