The Phillips Curve Under State-dependent Pricing

SSRN Electronic Journal ◽

10.2139/ssrn.641283 ◽

2004 ◽

Cited By ~ 8

Author(s):

Hasan Bakhshi ◽

Hashmat Khan ◽

Barbara Rudolf

Keyword(s):

Phillips Curve ◽

State Dependent ◽

State Dependent Pricing

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The Phillips curve under state-dependent pricing

Journal of Monetary Economics ◽

10.1016/j.jmoneco.2007.07.001 ◽

2007 ◽

Vol 54 (8) ◽

pp. 2321-2345 ◽

Cited By ~ 23

Author(s):

Hasan Bakhshi ◽

Hashmat Khan ◽

Barbara Rudolf

Keyword(s):

Phillips Curve ◽

State Dependent ◽

State Dependent Pricing

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Habit formation in state-dependent pricing models: Implications for the dynamics of output and prices

Economics Letters ◽

10.1016/j.econlet.2014.03.012 ◽

2014 ◽

Vol 123 (3) ◽

pp. 336-340 ◽

Cited By ~ 2

Author(s):

Phuong V. Ngo

Keyword(s):

Habit Formation ◽

Pricing Models ◽

State Dependent ◽

State Dependent Pricing

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STATE DEPENDENT PRICING AND BUSINESS CYCLE ASYMMETRIES

International Economic Review ◽

10.1111/j.1468-2354.2007.00426.x ◽

2007 ◽

Vol 48 (1) ◽

pp. 281-310 ◽

Cited By ~ 25

Author(s):

Michael B. Devereux ◽

Henry E. Siu

Keyword(s):

Business Cycle ◽

State Dependent ◽

State Dependent Pricing

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Aggregation and Optimization with State-Dependent Pricing: A Comment

Econometrica ◽

10.1111/j.1468-0262.2006.00672.x ◽

2006 ◽

Vol 74 (2) ◽

pp. 565-573 ◽

Cited By ~ 4

Author(s):

Vladislav Damjanovic ◽

Charles Nolan

Keyword(s):

State Dependent ◽

State Dependent Pricing

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State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output

The Quarterly Journal of Economics ◽

10.1162/003355399556106 ◽

1999 ◽

Vol 114 (2) ◽

pp. 655-690 ◽

Cited By ~ 357

Author(s):

M. Dotsey ◽

R. G. King ◽

A. L. Wolman

Keyword(s):

General Equilibrium ◽

Equilibrium Dynamics ◽

State Dependent ◽

State Dependent Pricing

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Inflation and output dynamics with state-dependent pricing decisions

Journal of Monetary Economics ◽

10.1016/j.jmoneco.2005.05.006 ◽

2006 ◽

Vol 53 (7) ◽

pp. 1235-1257 ◽

Cited By ~ 63

Author(s):

Ariel T. Burstein

Keyword(s):

Pricing Decisions ◽

State Dependent ◽

State Dependent Pricing

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Expectations and exchange rate dynamics: A state-dependent pricing approach

Journal of International Economics ◽

10.1016/j.jinteco.2009.01.010 ◽

2009 ◽

Vol 78 (1) ◽

pp. 60-71 ◽

Cited By ~ 10

Author(s):

Anthony Landry

Keyword(s):

Exchange Rate ◽

Exchange Rate Dynamics ◽

State Dependent ◽

State Dependent Pricing

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Non-linearities, state-dependent prices and the transmission mechanism of monetary policy

The Economic Journal ◽

10.1093/ej/ueab049 ◽

2021 ◽

Author(s):

Guido Ascari ◽

Timo Haber

Keyword(s):

Monetary Policy ◽

Price Level ◽

Transmission Mechanism ◽

Monetary Policy Shocks ◽

Real Effects ◽

State Dependent ◽

Trend Inflation ◽

Policy Shocks ◽

Linear Effects ◽

State Dependent Pricing

Abstract A sticky price theory of the transmission mechanism of monetary policy shocks based on state-dependent pricing yields two testable implications, that do not hold in time-dependent models. First, large monetary policy shocks should yield proportionally larger initial responses of the price level. Second, in a high trend inflation regime, the response of the price level to monetary policy shocks should be larger and real effects smaller. Our analysis provides evidence supporting these non-linear effects in the response of the price level in aggregate US data, indicating state-dependent pricing as an important feature of the transmission mechanism of monetary policy.

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