Academic Journal
2009): “Structural Estimation of Price Adjustment Costs in the European Car Market,”Working Paper
| العنوان: | 2009): “Structural Estimation of Price Adjustment Costs in the European Car Market,”Working Paper |
|---|---|
| المؤلفون: | Carlos Noton |
| المساهمون: | The Pennsylvania State University CiteSeerX Archives |
| المصدر: | http://www.imtlucca.it/whats_new/job_market_seminars/_economics_and_institutional_changes_2010/0127_Publication_1_Noton.pdf. |
| المجموعة: | CiteSeerX |
| مصطلحات موضوعية: | exchange rate pass-through, discrete choice model, structural estimation, menu costs. JEL Classification, F10, F31, L11, L16 |
| الوصف: | Exchange rate pass-through literature identifies an important delay in price responses, especially in differentiated products. Using the methodol-ogy of Bajari, Benkard, and Levin (2007), I estimate the structural price adjustment cost consistent with this fact in the European car market. My approach differs from previous work in that my framework allows me greater flexibility in estimating dynamic games. My main result is that rel-atively small adjustment costs rationalize the observed inertia in car prices. Intuitively, forward looking price setters face an autocorrelated economic environment (like the nominal exchange rates, GDP and wages) such that just a small cost of repricing justify the persistent prices in the European car market. Additionally, my estimates stress a market-specific hetero-geneity in price stickiness suggesting a new dimension of pricing to market behavior. |
| نوع الوثيقة: | text |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.588.9673; http://www.imtlucca.it/whats_new/job_market_seminars/_economics_and_institutional_changes_2010/0127_Publication_1_Noton.pdf |
| الاتاحة: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.588.9673 http://www.imtlucca.it/whats_new/job_market_seminars/_economics_and_institutional_changes_2010/0127_Publication_1_Noton.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| رقم الانضمام: | edsbas.97D5DECD |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |