Aksoy, Yunus (2001) Firms, international money and prices: a survey of the literature. Review of Business and Economics 46 (2), pp. 175-201. ISSN 0772-7674.
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Sluggish price adjustments with respect to exchange rate shocks take essentially two forms. Firstly, prices do not adjust completely to neutralize the effects of nominal exchange rate shocks. Secondly, price adjustments after exchange rate shocks only take place in discrete time intervals, in other words they are discontinuous. These two features of price adjustments form our definition of international price rigidities. In this paper we shall present a survey of the empirical and theoretical literature on international price rigidities. We provide the underlying intuition of the theoretical research and present a brief summary of the empirical findings.
|Additional Information:||Full-text locked pending publisher permission|
|School or Research Centre:||Birkbeck Schools and Research Centres > School of Business, Economics & Informatics > Economics, Mathematics and Statistics|
|Depositing User:||Dr Yunus Aksoy|
|Date Deposited:||01 Dec 2011 08:35|
|Last Modified:||17 Apr 2013 12:33|
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