Sticky Prices in the United States
Datos Bibliográficos
| ID | 10180819 |
|---|---|
| Autores | Julio J Rotemberg (autor de correspondencia) |
| Año | 1982 |
| Volumen | 90 |
| Número | 6 |
| Páginas | 1187-1211 |
| Fecha de publicación | 1982-12-01 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | Journal of Political Economy (JOURNAL) |
| Identificadores de la revista | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Editorial | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/261117 |
| OpenAlex | W2142741054 |
| Idioma | EN |
| Citas recibidas | 58 |
| Referencias citadas | 6 |
It has often been argued that prices are sticky in the United States. However, the empirical papers that have claimed to support this view have not reflected any formal behavioral theory. This paper presents a theory that justifies price stickiness, namely, that firms, fearing to upset their customers, attribute a cost to price changes. The rational expectations equilibrium of an economy with many such firms is presented, estimated with postwar U.S. data, and tested against alternative hypotheses. The results largely support the model. Furthermore, the hypothesis that prices are not sticky is rejected by U.S. data
Economics · Empirical research · Keynesian economics · Microeconomics · Price setting · Rational expectations · Economic theories and models · Economics of Agriculture and Food Markets · Monetary Policy and Economic Impact
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| Obras citantes distintas | 58 |
|---|---|
| Citas por año | 1,38 |
| Intervalo de citas | 1984 - 2025 (42) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 56 |