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

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aut.relation.journalApplied Economics Lettersen_NZ
aut.researcherKumar, Saten
dc.contributor.authorKumar, Sen_NZ
dc.date.accessioned2020-07-12T23:46:10Z
dc.date.available2020-07-12T23:46:10Z
dc.date.copyright2020-03-10en_NZ
dc.date.issued2020-03-10en_NZ
dc.description.abstractWe 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.
dc.identifier.citationApplied Economics Letters, 27(1), 1-4.
dc.identifier.doi10.1080/13504851.2019.1602704en_NZ
dc.identifier.issn1350-4851en_NZ
dc.identifier.urihttps://hdl.handle.net/10292/13520
dc.publisherTaylor & Francis (Routledge)en_NZ
dc.relation.urihttps://www.tandfonline.com/doi/full/10.1080/13504851.2019.1602704
dc.rightsCopyright © 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).
dc.rights.accessrightsOpenAccessen_NZ
dc.subjectFinancial crisis; Sticky information Phillips curve; Stickiness parameter
dc.titleGreat Recession and Information Stickiness: Evidence from Sticky Information Phillips Curveen_NZ
dc.typeJournal Article
pubs.elements-id383245
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Business, Economics & Law
pubs.organisational-data/AUT/Business, Economics & Law/Economics
pubs.organisational-data/AUT/Business, Economics & Law/Economics/Economics PBRF 2012
pubs.organisational-data/AUT/Faculty of Business, Economics and Law
pubs.organisational-data/AUT/Faculty of Business, Economics and Law/School of Economics
pubs.organisational-data/AUT/PBRF
pubs.organisational-data/AUT/PBRF/PBRF Business Economics and Law
pubs.organisational-data/AUT/PBRF/PBRF Business Economics and Law/Faculty Review Team PBRF 2018
pubs.organisational-data/AUT/PBRF/PBRF Business Economics and Law/School of Economics PBRF 2018
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