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Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Becker, Sascha | en |
dc.date.accessioned | 2011-03-24 | - |
dc.date.accessioned | 2012-04-05T16:21:22Z | - |
dc.date.available | 2012-04-05T16:21:22Z | - |
dc.date.issued | 2011 | - |
dc.identifier.uri | http://hdl.handle.net/10419/56736 | - |
dc.description.abstract | Recent monetary search and Calvo-type models predict that the relationship between inflation and price dispersion is U-shaped, implying an optimal rate of inflation above zero. Moreover, monetary search models emphasize a critical dependence of the real effects of inflation on sellers' market power, whereas Calvotype models suggest that the degree of price rigidity significantly affects the inflation - price dispersion nexus. Using a new set of highly disaggregated sectoral price data from a panel of European countries, this paper contributes to the literature by testing the empirical relevance of these two theoretical predictions. In line with monetary search theory, a U-shaped profile is found, provided that markups are sufficiently high, but the relationship breaks down under a more competitive environment. Contrarily, no evidence is found to support the contentions of Calvo-type models: U-shaped effects of inflation occur in product sectors with sticky as well as highly flexible prices. | en |
dc.language.iso | eng | en |
dc.publisher | |aHumboldt University of Berlin, Collaborative Research Center 649 - Economic Risk |cBerlin | en |
dc.relation.ispartofseries | |aSFB 649 Discussion Paper |x2011-019 | en |
dc.subject.jel | C23 | en |
dc.subject.jel | D40 | en |
dc.subject.jel | E31 | en |
dc.subject.jel | F15 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | inflation | en |
dc.subject.keyword | relative price variability | en |
dc.subject.keyword | price level index | en |
dc.subject.keyword | Euro-area | en |
dc.subject.keyword | market structure | en |
dc.subject.keyword | monetary search model | en |
dc.subject.keyword | dynamic panel data models | en |
dc.subject.stw | Taxigewerbe | en |
dc.subject.stw | Betrug | en |
dc.subject.stw | Vertrauensgüter | en |
dc.subject.stw | Asymmetrische Information | en |
dc.subject.stw | Feldforschung | en |
dc.subject.stw | Athen | en |
dc.title | What drives the relationship between inflation and price dispersion? Market power vs. price rigidity | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 654797668 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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