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作者：Beaulieu, J; Mattey, J
作者单位：Federal Reserve System - USA; Federal Reserve System - USA; Federal Reserve Bank - San Francisco
摘要：This study investigates the dispersion of price levels within highly disaggregated markets by examining plant-level product records from the U. S. Census of Manufactures. The paper estimates the effects of inflation on price dispersion through cross-sectional variation in the drift rate of average input costs within a market, arguing that, in several models that relate inflation to price dispersion, the effects of cost increases on dispersion is similar to the effects of general inflation. We ...
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作者：Verbrugge, RJ
作者单位：Virginia Polytechnic Institute & State University
摘要：This paper reexamines the evidence relating core inflation to cross-sectional inflation asymmetry using statistical measures that are robust to the criticism of Bryan and Cecchetti. The results here suggest that there does exist significant positive correlation between core inflation and cross-sectional inflation asymmetry, but only at the monthly frequency. Furthermore, a sampling problem is highlighted which underscores the importance of careful Monte Carlo analysis when exact small-sample d...
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作者：Kandel, E; Zilberfarb, BZ
作者单位：Hebrew University of Jerusalem; Bar Ilan University
摘要：We test the hypothesis associated with a standard assumption in the theoretical literature on learning: that economic agents interpret information identically. We use a data set based on a survey of Israeli business executives forecasting future inflation. One of the main advantages of using this data is that a major change in the inflation regime in 1985 can be treated as a natural experiment in new beliefs formation. We develop a methodology for testing this hypothesis and find evidence that...
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作者：Ball, L; Mankiw, NG
作者单位：Johns Hopkins University; Harvard University
