Global versus local shocks in micro price dynamics
dc.contributor.author | Andrade, Philippe | en |
dc.contributor.author | Zachariadis, Marios | en |
dc.creator | Andrade, Philippe | en |
dc.creator | Zachariadis, Marios | en |
dc.date.accessioned | 2019-05-03T05:21:44Z | |
dc.date.available | 2019-05-03T05:21:44Z | |
dc.date.issued | 2016 | |
dc.identifier.uri | http://gnosis.library.ucy.ac.cy/handle/7/47063 | |
dc.description.abstract | A number of recent papers point to the importance of distinguishing between the price reaction to macro and micro shocks. We emphasize instead the importance of distinguishing between global and local shocks. We exploit a panel of 276 micro price levels collected on a semi-annual frequency over two decades in 59 countries around the world, that enables us to distinguish between different types (. global and local) of macro and micro shocks. We find that global macro and micro shocks are always associated with a slower response of prices than the respective local shocks. Focusing on structural monetary macro shocks, we show that prices reach their long-run value much slower in response to a global macro shock, as compared to the time it takes for prices to reach their long-run value in response to a local macro shock. © 2015 Elsevier B.V. | en |
dc.language.iso | eng | en |
dc.source | Journal of International Economics | en |
dc.subject | financial system | en |
dc.subject | Global shocks | en |
dc.subject | International prices | en |
dc.subject | Local shocks | en |
dc.subject | Macro shocks | en |
dc.subject | macroeconomics | en |
dc.subject | Micro prices | en |
dc.subject | microeconomics | en |
dc.subject | model | en |
dc.subject | price determination | en |
dc.subject | price dynamics | en |
dc.subject | Price-setting models | en |
dc.title | Global versus local shocks in micro price dynamics | en |
dc.type | info:eu-repo/semantics/article | |
dc.identifier.doi | 10.1016/j.jinteco.2015.10.005 | |
dc.description.volume | 98 | |
dc.description.startingpage | 78 | |
dc.description.endingpage | 92 | |
dc.author.faculty | Σχολή Οικονομικών Επιστημών και Διοίκησης / Faculty of Economics and Management | |
dc.author.department | Τμήμα Οικονομικών / Department of Economics | |
dc.type.uhtype | Article | en |
dc.contributor.orcid | Zachariadis, Marios [0000-0002-2308-1881] | |
dc.description.totalnumpages | 78-92 | |
dc.gnosis.orcid | 0000-0002-2308-1881 |
Files in this item
Files | Size | Format | View |
---|---|---|---|
There are no files associated with this item. |