IMAS 23417
INSTITUTO DE INVESTIGACIONES MATEMATICAS "LUIS A. SANTALO"
Unidad Ejecutora - UE
artículos
Título:
A Note on Price Asymmetry Using a Monetary Model
Autor/es:
PABLO SCHIAFFINO; JUAN PABLO PINASCO
Revista:
Theoretical Economics Letters
Editorial:
SCIRP
Referencias:
Año: 2014 vol. 4 p. 697 - 701
ISSN:
2162-2078
Resumen:
In this paper we present a macroeconomic foundation of downward money price inflexibility based on classical Monetary Economics. We show that under the principle of risk aversion and the neutral money axiom, our model derives an endogenous asymmetric price response as prices adjust more rapidly when they go upward than downward. This asymmetry does not disappear; on the contrary, it is increasing in time.
