Construct · 1 fields · 1 citations

selection effect in price setting: a standalone construct

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selection effectin price setting1 CONSTRUCTSelection effect inGOLOSOV · MACROECONOMICS

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Macroeconomics

the tendency in menu-cost models for the firms whose prices are furthest from optimal to change them, making the price level adjust quickly to money.

In macroeconomics, selection effect in price setting refers to the tendency in menu-cost models for the firms whose prices are furthest from optimal to change them, making the price level adjust quickly to money. This meaning comes from Golosov (2007) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

level1 fields · 1 citationsanchor · a standalone constructselection4 fields · 5 citationsjingle · one word, four constructs

References

  1. Golosov, M., & Lucas Jr., R. E. (2007). Menu Costs and Phillips Curves. Journal of Political Economy, 115(2), 171-199. https://doi.org/10.1086/512625

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