発表資料
https://www.waseda.jp/fpse/winpec/assets/uploads/2018/12/20190115KatoandOkuda2019waseda.pdf
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【日 時】 2019年1月15日（火）10：40 – 12：10
Tuesday, January 15, 10:40 – 12：10
【場 所】早稲田大学 早稲田キャンパス3号館10階第一会議室
Venue Conference Room 1 on the 10th floor of Building 3 (Waseda Campus)
【Presenter】加藤涼先生 （日本銀行）
Dr. Ryo Kato, Institute for Monetary and Economic Studies (IMES), Bank of Japan
【Title】Market Concentration and Sectoral Inflation under Imperfect Common Knowledge
【Abstract】We show empirical evidence that sectoral inflation persistence, measured by autocorrelation of monthly changes in US producer prices, is starkly dispersed and negatively correlated with market concentration across sectors. To account for such empirical observation, we develop a dynamic stochastic model of firms’ pricing strategy in which monopolistically competitive firms set their prices while receiving private signals on cost shocks. In the model, an increase in the number of competing firms raises strategic complementarity among the firms in the same sector. Using the model, we analytically show that, under imperfect common knowledge, sectoral inflation persistence is monotonically decreasing in market concentration.
【Paper】Please refer to the following URL
https://waseda.box.com/s/0sq13en8aqjxt8oappibt6b8ubx17ld2
【招聘教員】上田 晃三 先生 Organizer Prof. Kozo Ueda
現政研セミナーは広く皆様にひらかれたセミナーです。
皆様の御参加をお待ちしております。
We encourage your participation.
