主讲人简介:Huw Dixon,卡迪夫大学商学院教授,曾任英国皇家学会年会主席,约克大学教授、经济系主任,并曾在斯旺西大学、埃塞克斯大学以及伦敦大学伯贝克学院任教。1984年博士毕业于牛津大学,师从诺贝尔经济学奖得主詹姆斯·米尔利斯。担任过包括欧洲经济与政策研究中心研究员,英国皇家经济学会学术委员,德国CESifo(德国最著名的政策研究机构)研究员。他曾担任国际顶尖期刊经济研究评论编委,经济期刊栏目主编,工业经济期刊编委等重要学术职务。Dixon 教授的研究领域横跨微观与宏观。包括产业组织理论、博弈论与有限理性理论、新凯恩斯宏观经济模型。其研究成果发表于众多国际知名学术期刊。
In this paper I explore what is meant by nominal rigidity and how it can influence how the economy as a whole behaves. In particular, I show that even a small sector with rigid prices can affect the way the whole economy reacts to changes in nominal demand. Flexible prices can be influenced by inflexible prices. Using French and British microdata on prices, I look at different approaches to measuring nominal rigidity and demonstrate how pervasive it is. I argue that much of the existing literature focusses on the wrong measure of nominal rigidity. The cross-sectional approach best captures the pricing behaviour of price-setters. Lastly, I consider the significance of the micro evidence on prices for current macroeconomic theory and economics in general.
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