Title of article
Nominalshocksinmonopolisticallycompetitivemarkets: An experiment
Author/Authors
Douglas Davis، نويسنده , , OlegKorenok، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2011
Pages
12
From page
578
To page
589
Abstract
A marketexperimentexaminesthecapacityofpriceandinformationfrictionsto
explainrealresponsestonominalpriceshocks.Resultsindicatethatbothpriceand
informationfrictionsimpedetheresponsetoanominalshock,aspredictedbythe
standarddynamicadjustmentmodels.Observedadjustmentdelays,however,far
exceedpredictedlevels.Resultsofapairofsubsequenttreatmentsindicatethata
combinationofannouncingtheshockprivatelytoallsellers(ratherthanpublicly)anda
failureofmanysellerstobestrespondtotheirexpectationsexplainstheobserved
adjustmentinertia
Journal title
Journal of Monetary Economics
Serial Year
2011
Journal title
Journal of Monetary Economics
Record number
846495
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