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 ...
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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 ... 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.
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