Persistent monetary non-neutrality in an estimated menu-cost model with partially costly information

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dc.contributor.authorMARCO ANTONIO CESAR BONOMO
dc.contributor.authorCarvalho, Carlos
dc.contributor.authorGarcia, René
dc.contributor.authorMalta, Vivian
dc.contributor.authorRigato, Rodolfo
dc.coverage.cidades.l.pt_BR
dc.coverage.paisNão Informadopt_BR
dc.creatorCarvalho, Carlos
dc.creatorGarcia, René
dc.creatorMalta, Vivian
dc.creatorRigato, Rodolfo
dc.date.accessioned2022-10-28T17:14:47Z
dc.date.available2022-10-28T17:14:47Z
dc.date.issued2021
dc.description.otherWe propose a model that reconciles microeconomic evidence of frequent and large price changes with sizable monetary non-neutrality. Firms incur separate lump-sum costs to change prices and to gather and process some information about marginal costs. Ad ditional relevant information is continuously available, and can be factored into pricing decisions at no cost. We estimate the model by Simulated Method of Moments, using price-setting statistics for the U.S. economy. The model with free idiosyncratic and costly aggregate information fits well both targeted and untargeted microeconomic moments and generates almost three times as much monetary non-neutrality as the Calvo model.pt_BR
dc.format.extent45 p.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/4548
dc.language.isoInglêspt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordsMonetary non-neutralitypt_BR
dc.subject.keywordsMenu costspt_BR
dc.subject.keywordsInformation costspt_BR
dc.subject.keywordsPartial informationpt_BR
dc.subject.keywordsInattentionpt_BR
dc.subject.keywordsOptimal price settingpt_BR
dc.subject.keywordsState-dependent pricingpt_BR
dc.subject.keywordsTime-dependent pricingpt_BR
dc.titlePersistent monetary non-neutrality in an estimated menu-cost model with partially costly informationpt_BR
dc.typeworking paper
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeWorking Paperpt_BR
relation.isAuthorOfPublicationd54ec806-4e91-4f4f-8724-e3a23d67b3aa
relation.isAuthorOfPublication.latestForDiscoveryd54ec806-4e91-4f4f-8724-e3a23d67b3aa

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