Pricing Behaviour and the Cost-Push Channel of Monetary Policy

被引：25

作者：

Lima, Gilberto ^{[1
]}

Setterfield, Mark ^{[2
]}

机构：

[1] Univ Sao Paulo, Dept Econ, Sao Paulo, Brazil

[2] Trinity Coll, Dept Econ, Hartford, CT 06106 USA

来源：

REVIEW OF POLITICAL ECONOMY | 2010年 / 22卷 / 01期

关键词：

D O I：

10.1080/09538250903391863

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the empirical and theoretical status of the cost-push channel of monetary policy, according to which interest rates affect the costs of production and hence pricing behaviour. Particular attention is paid to modelling the cost-push channel in a manner consistent with cost-plus pricing theory, which is identified as the canonical model of pricing behaviour in heterodox economics. It is shown that different variants of cost-plus pricing behaviour give rise to qualitatively different specifications of the cost-push channel, with important consequences for macrodynamics and the conduct of monetary policy.

引用

页码：19 / 40

页数：22

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