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[宏观经济学研讨会]Inflation Dynamics during the Financial Crisis
发布日期:2017-11-28
【ECON20171220】
宏观经济学研讨会
(总第235期)
 
【时间】2017年11月29日(周三)12:15-13:45
【地点】明商0202教室
【主讲】黄源 中国人民大学经济学院
【主题】Inflation Dynamics during the Financial Crisis(S. Gilchrist et al., American Economic Review, 2017)
【点评】陈朴 中国人民大学经济学院副教授
【摘要】Firms with limited internal liquidity significantly increased prices in 2008, while their liquidity unconstrained counterparts slashed prices. Differences in the firms` price-setting behavior were concentrated in sectors likely characterized by customer markets. We develop a model, in which firms face financial frictions, while setting prices in a customer-markets setting. Financial distortions create an incentive for firms to raise prices in response to adverse demand or financial shocks. These results reflect the firms` reaction to preserve internal liquidity and avoid accessing external finance, factors that strengthen the countercyclical behavior of markups and attenuate the response of inflation to fluctuations in output.
【主持】陈彦斌 教授


    人大宏观经济学研讨会(Macro Workshop)旨在追踪宏观经济学国际最新进展,倡导构建符合国情的动态优化模型,并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。
联系人:刘哲希    Email:Macro_Workshop@163.com
资料下载:www.docin.com/mydoc-88265459-1.html
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中国人民大学经济学院
中国经济改革与发展研究院
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