Understanding price dynamics: recent advances

Thursday, 15 October

INVITED LECTURE:

“Microeconomic Evidence on Price-Setting”, Pete KLENOW (Stanford University)

SESSION 1: NEW MICRO-EVIDENCE ON PRICE STICKINESS

“Price Adjustments and Inflation Evidence from Consumer Price Data in Norway 1975–2004”, Fredrik WULFSBERG (Norges Bank)

“Evaluating Micro Foundations for Price Setting: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost”, Mikael CARLSSON (Sveriges Riksbank) and Oskar Nordström-Skans (Uppsala University)

“Restaurant Prices and the Minimum Wage”, Denis Fougère (Crest-Insee, IZA & CEPR), Erwan GAUTIER (Banque de France), Hervé Le Bihan (Banque de France)
 

SESSION 2: SECTORAL HETEROGENEITY AND NOMINAL RIGIDITIES

“Estimating the Cross-sectional Distribution of Price Stickiness from Aggregate Data”, Carlos. CARVALHO (Federal Reserve of New-York) and Niels Dam (Danmarks Nationalbank)

“Sectoral Price Data and Models of Price Setting”, Bartosz MACKOWIAK (European Central Bank and CEPR), Emmanuel Moench (Federal Reserve Bank of New York), Mirko Wiederholt (Northwestern University)

“Sectoral Price Rigidity and Aggregate Dynamics” , Hafedh Bouakez (HEC Montreal), Emanuela Cardia (Université de Montréal) and Francisco RUGE-MURCIA (Université de Montréal)


Friday, 16 October

INVITED LECTURE:

“Behavioral aspects of price setting” , Julio ROTEMBERG (Harvard Business School)
 

SESSION 3: IMPLICATIONS OF MICROECONOMIC PRICING PATTERNS

“Real Rigidities: Evidence from an Online Marketplace” , Takayuki Mizuno (Hitotsubashi University), Makoto Nirei (Hitotsubashi University) and Tsutomu WATANABE (Hitotsubashi University)

“Inflation Asymmetry and Menu Costs New Micro Data Evidence” , Peter Karadi (NYU) and Adam REIFF (Magyar Nemzeti Bank)

“Sales and Monetary Policy” , Bernardo Guimaraes (LSE) and Kevin SHEEDY (London School of Economics)
 

SESSION 4: RECENT ADVANCES ON MENU-COST MODELS

“Inventories, Markups, and Real Rigidities in Menu Cost Models”, Oleksiy KRYVTSOV (Bank of Canada) and Virgiliu Midrigan (NYU)

“Dynamics of the Price Distribution in a General Model of State-Dependent Pricing” , James COSTAIN (Banco de España), Anton Nakov (Banco de España)

“Inflation and Real Activity with Firm Level Productivity Shocks” , Michael DOTSEY (Federal Reserve Bank of Philadelphia), Robert King (Boston University), Alexander Wolman (Federal Reserve Bank of Richmond)