2009 Fiscal Year Final Research Report
Microfoundations for price stickiness and its implications for macroeconomics
| Project/Area Number |
20830121
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| Research Category |
Grant-in-Aid for Young Scientists (Start-up)
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| Allocation Type | Single-year Grants |
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| Research Field |
Applied economics
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| Research Institution | Kansai University |
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Principal Investigator |
TSURUGA Takayuki Kansai University, 経済学部, 准教授 (40511720)
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| Research Collaborator |
MARIO J. Crucini ヴァンダービルト大学, 経済学部, 准教授
SHINTANI Mototsugu ヴァンダービルト大学, 経済学部, 准教授
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| Project Period (FY) |
2008 – 2009
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| Keywords | 価格粘着性 / 一物一価法則 / 情報粘着性 / 実質為替レート / ミクロ価格データ |
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| Research Abstract |
This research project supported by this research fund theoretically and empirically analyzed how variations in prices among the same goods or services (i.e., the law-of-one-price deviations) interact with the frequency of price adjustment. In particular, one of the papers in this project shows the possibility that imperfect information held by firms may explain inconsistency between the sticky price models and the reality regarding the law-of-one-price deviations observed in the U.S. and Canada. In another paper, my co-authors and I find how the law-of-one-price deviations observed in Japanese cities are related to the frequency of price adjustment.
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