Retail prices during a change in monetary regimes: Evidence from sears, roebuck catalogs, 1938-1951

Managerial and Decision Economics

Volumn 28, Issue 7, 2007, Pages 763-775

  Young, Andrew T ^a   Blue, Alexander K ^b  

^a UNIVERSITY OF MISSISSIPPI   (United States)

^b EMORY UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 34748921188     PISSN: 01436570     EISSN: 10991468     Source Type: Journal    
DOI: 10.1002/mde.1378     Document Type: Review

References (39)

1. American Bankers Association (ABA). 1945. A Practical International Financial Organization Through Amendments to the Bretton Woods Proposals. American Banker's Association.
2. Bailey MN. 1978. Stabilization policy and private economic behavior. Brookings Papers on Economic Activity 1: 11-50.
3. Ball L, Mankiw NG. 1994. Asymmetric price adjustment and economic fluctuations. Economic Journal 104: 247-261.
4. Ball L, Mankiw NG, Romer D. 1988. The new Keynesian economics and the output inflation tradeoff. Brookings Papers on Economic Activity 1: 1-65.
5. Bernstein EM. 1944. A practical international monetary policy. American Economic Review 34: 771-784.
6. Bordo MD, Kydland FE. 1995. The gold standard as a rule: an essay in exploration. Explorations in Economic History 32: 423-464.
7. Bordo MD, Schwartz AJ. 1999. Monetary policy regimes and economic performance: the historical record. In Handbook of Macroeconomics, vol. 1A. Elsevier Science: Amsterdam.
8. Bratter H. 1945a. A Bretton Woods debate. Banking 40-41 (February): 121-122.
9. Bratter H. 1945b. Washington. Banking 47-48 (April): 47.
10. Burgess WR. 1945. A Bretton Woods formula. Banking 33-35 (May): 116.
11. Carlton D. 1986. The rigidity of prices. American Economic Review 76: 637-658.
12. Cecchetti SG. 1985. The frequency of price adjustment: a study of newsstand prices of magazines. Journal of Econometrics 31: 255-274.
13. Conlon JR, Liu C. 1997. Can more frequent price changes lead to price inertia? Nonneutralities in a state-dependent pricing context. International Economic Review 38: 893-914.
14. Davis M, Hamilton J. 2004. Why are prices sticky? The dynamics of wholesale gasoline prices. Journal of Money, Credit and Banking 36: 17-37.
15. Diebold FX, Rudebusch GD. 1999. Business Cycles: Duration, Dynamics and Forecasting. Princeton University Press: Princeton.
16. Emmet B, Jeuck JE. 1950. Catalogues and Counters: A History of Sears, Roebuck and Company. University of Chicago Press: Chicago.
17. Estrella A, Fuhrer JC. 2003. Monetary policy shifts and the stability of monetary policy models. Review of Economics and Statistics 85: 94-104.
18. Genesove D. 2003. The nominal rigidity of apartment rents. Review of Economics and Statistics 85: 844-853.
19. Gordon RJ. 2004. Apparel prices and the Hulten/ Bruegel paradox. Working Paper, Northwestern University and NBER.
20. Greenwald BC, Stiglitz JE. 1989. Toward a theory of rigidities. American Economic Review 79: 364-369.
21. Harberler G. 1944. Currency depreciation and the International Monetary Fund. Review of Economics and Statistics 26: 178-181.
22. Harris SE. 1944. The contributions of Bretton Woods and some unsolved problems. Review of Economic Statistics 26: 175-177.
23. Ireland PN. 1997. Stopping inflations, big and small. Journal of Money Credit and Banking 29: 759-775.
24. Irwin WA. 1945. Two economic challenges of peace. Banking 36-37 (March): 111.
25. Kackmeister A. 2004. Price adjustment: then and now. Working Paper, Federal Reserve Board of Governors.
26. Kackmeister A. 2005. Yesterday's bad times and today's good old times: retail price changes in the 1890s were smaller, less frequent, and more permanent. Working Paper No. 2005-18, Finance and Economics Discussion Series, Federal Reserve Board of Governors.
27. Kashyap A. 1995. Sticky prices: new evidence from retail catalogues. Quarterly Journal of Economics 111: 245-274.
28. Kydland FE, Prescott EC. 1977. Rules rather than discretion: the inconsistency of optimal plans. Journal of Political Economy 85: 473-491.
29. Levy D, Bergen M, Dutta S, Venable R. 1997. The magnitude of menu costs: direct evidence from large U.S. supermarket chains. Quarterly Journal of Economics 112: 791-825.
30. Levy D, Young AT. 2004. 'The real thing': nominal price rigidity and the nickel Coke, 1886-1959. Journal of Money Credit and Banking 36: 765-799.
31. Lucas RE. 1976. Econometric policy evaluation: a critique. Carnegie Rochester Series on Public Policy 1: 19-46.
32. Mikesell RF. 1945. The key currency proposal. Quarterly Journal of Economics 59: 563-576.
33. Renner E, Tyran J-R. 2004. Price rigidity in customer markets. Journal of Economic Behavior and Economics 55: 575-593.
34. Stern, EH. 1944. The agreements of Bretton Woods. Economica 11: 165-179.
35. Tsiddon D. 1993. The (mis)behavior of the aggregate price level. Review of Economic Studies 60: 889-902.
36. Wiel GL. 1977. Sears, Roebuck, U.S.A.: The Great American Catalog Store and How it Grew. Stein and Day: New York.
37. Wolman AL. 2007. The frequency and costs of individual price adjustment. Managerial and Decision Economics 28: 531-552.
38. Young AT, Levy D. 2005. Explicit evidence on an implicit contract. SSRN Working Paper, http:// papers.ssrn.com/abstract = 739984.
39. Zbaracki MJ, Ritson M, Levy D, Shantanu D, Bergen M. 2004. Managerial and customer costs of price adjustment: direct evidence from industrial markets. Review of Economics and Statistics 86: 514-533.