AUT LibraryAUT
View Item 
  •   Open Research
  • AUT Faculties
  • Faculty of Business, Economics and Law
  • AUT School of Economics
  • View Item
  •   Open Research
  • AUT Faculties
  • Faculty of Business, Economics and Law
  • AUT School of Economics
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Great Recession and Information Stickiness: Evidence from Sticky Information Phillips Curve

Kumar, S
Thumbnail
View/Open
Journal article (607.3Kb)
Permanent link
http://hdl.handle.net/10292/13520
Metadata
Show full metadata
Abstract
We utilize the nonlinear least squares (NLLS) and seemingly unrelated regression (SUR) techniques to estimate information stickiness parameter λ for the USA. We find that λ values appeared in a somewhat humped shape or inverted U pattern during the financial crisis. Prior to the financial crisis (1978.Q1-2006.Q4), λ was around 0.3. However, when the sample is extended to include the financial crisis period (1978.Q1-2011.Q4), λ increased to around 0.6. Results imply that during the financial crisis many firms became flexible and efficient and used updated information to set optimal prices.
Keywords
Financial crisis; Sticky information Phillips curve; Stickiness parameter
Date
March 10, 2020
Source
Applied Economics Letters, 27(1), 1-4.
Item Type
Journal Article
Publisher
Taylor & Francis (Routledge)
DOI
10.1080/13504851.2019.1602704
Publisher's Version
https://www.tandfonline.com/doi/full/10.1080/13504851.2019.1602704
Rights Statement
Copyright © 2019 Taylor & Francis. Authors retain the right to place his/her pre-publication version of the work on a personal website or institutional repository as an electronic file for personal or professional use, but not for commercial sale or for any systematic external distribution by a third. This is an electronic version of an article published in (see Citation). Applied Economics Letters is available online at: www.tandfonline.com with the open URL of your article (see Publisher’s Version).

Contact Us
  • Admin

Hosted by Tuwhera, an initiative of the Auckland University of Technology Library

 

 

Browse

Open ResearchTitlesAuthorsDateAUT School of EconomicsTitlesAuthorsDate

Alternative metrics

 

Statistics

For this itemFor all Open Research

Share

 
Follow @AUT_SC

Contact Us
  • Admin

Hosted by Tuwhera, an initiative of the Auckland University of Technology Library