Shock Size, Asymmetries, and State Dependent Pricing
Bank for International Settlements (BIS)
Wai-Yip Alex Ho
Hong Kong Monetary Authority
Economics Letters, Forthcoming
State dependent pricing models predict different real responses to shocks than time dependent pricing models. For sufficiently large shocks, the real effects of shocks are independent of their sign.
Number of Pages in PDF File: 10
Keywords: State Dependent Pricing, Asymmetry
JEL Classification: E31Accepted Paper Series
Date posted: August 19, 2005
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