Decoupling nominal and real rigidities. A reexamination of the canonical model of price setting under menu costs

DOI10.1016/J.ECONLET.2017.04.019MaRDI QIDQ1673547zbMATH OpenOpenAlexFDO

Authors Philipp J. König, Alexander Meyer-Gohde

Publication date 12 September 2018

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.econlet.2017.04.019

zbMATH Keywords

global gamesmenu costssticky prices

Mathematics Subject Classification ID

Other game-theoretic models (91A40) Microeconomic theory (price theory and economic markets) (91B24)

Recommendations

• Menu costs, firm strategy, and price rigidity
• Inventories, markups, and real rigidities in menu cost models
• Menu costs, firm size and price rigidity
• Menu costs, multiproduct firms, and aggregate fluctuations
• Monetary non-neutrality in a multisector menu cost model
• Optimal price setting with observation and menu costs
• Asymmetric price adjustment in a menu-cost model
• Price setting with menu cost for multiproduct firms
• An explicit solution for dynamic menu costs with zero discounting

Cites work

• Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
• Monetary non-neutrality in a multisector menu cost model

Cited in

(6)

• Asymmetric price adjustment in a menu-cost model
• Money, unit of account, and nominal rigidity
• Can small menu costs explain sticky prices?
• A comparison of menu costs in open and closed economies with a mixed industrial structure
• Inventories, markups, and real rigidities in menu cost models
• The (Q,S,s) pricing rule

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