Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/249735 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
Texto para discussão No. 687
Verlag: 
Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Departamento de Economia, Rio de Janeiro
Zusammenfassung: 
We study a unique dataset with comprehensive coverage of daily prices in large multi-product retailers in Israel. Retail stores synchronize price changes around occasional "peak" days when they reprice around 10% of their products. To assess aggregate implications of partial price synchronization, we develop a new model in which multi-product firms face economies of scope in price adjustment, and synchronization is endogenous. Synchronization of price changes attenuates the average price response to monetary shocks, but only high degrees of synchronization can substantially strengthen monetary non-neutrality. Our calibrated model generates as little monetary non-neutrality as in Golosov and Lucas (2007).
Schlagwörter: 
Ination
Prices
Multi-product pricing
Synchronization of prices
Menu cost
Monetary non-neutrality
JEL: 
D21
D22
E31
E52
L11
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
671.21 kB





Publikationen in EconStor sind urheberrechtlich geschützt.