Asymmetric (S,s) pricing: implications for monetary policy

Zakaria Babutsidze

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Abstract: This paper presents a model of asymmetric (S,s) pricing. We investigate implications of such a behavior for the effectiveness of the monetary policy. We discuss two types of asymmetric responses to monetary interventions. One is the symmetry in the responses to positive and negative monetary shocks. The other is the variance in responses to monetary shocks during booms and recessions. The conclusion is that first type of asymmetry can be attributed to the asymmetry in adjustment bands, while the second kind of asymmetry is a result of firm heterogeneity, and asymmetry of (S,s) bands does not contribute to it.

Keywords: Pricing; Monetary policy; Heterogeneity; Asymmetry. (search for similar items in EconPapers)
Date: 2012-09
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-01053560
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Published in Revue de l'OFCE, 2012, 124, pp.177-204. ⟨10.3917/reof.124.0177⟩

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Journal Article: Asymmetric (S,s) Pricing: Implications for Monetary Policy (2012)
Working Paper: Asymmetric (S,s) pricing: implications for monetary policy (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01053560

DOI: 10.3917/reof.124.0177

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