Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

Surprising findings on what influences unintended pregnancy from Wise, Geronimus and Smock

Recommendations on how to reduce discrimination resulting from ban-the-box policies cite Starr's work

Brian Jacob on NAEP scores: "Michigan is the only state in the country where proficiency rates have actually declined over time."

More News

Highlights

Call for papers: Conference on computational social science, April 2017, U-M

Sioban Harlow honored with 2017 Sarah Goddard Power Award for commitment to women's health

Post-doc fellowship in computational social science for summer or fall 2017, U-Penn

ICPSR Summer Program scholarships to support training in statistics, quantitative methods, research design, and data analysis

More Highlights

Next Brown Bag

Mon, March 13, 2017, noon:
Rachel Best

Sticky-price models and durable goods

Publication Abstract

Barsky, R.B., C.L. House, and Miles Kimball. 2007. "Sticky-price models and durable goods." American Economic Review, 97(3): 984-998.

The inclusion of a durable goods sector in sticky-price models has strong and unexpected implications. Even if most prices are flexible, a small durable goods sector with sticky prices may be sufficient to make aggregate output react to monetary policy as though most prices were sticky. In contrast, flexibly priced durables with sufficiently long service lives can undo the implications of standard sticky price models. In a limiting case, flexibly priced durables cause monetary policy to have no effect on aggregate output. Our analysis suggests that durable goods prices are the most relevant data for calibrating price rigidity.

DOI:10.1257/000282807781267156 (Full Text)

Browse | Search : All Pubs | Next