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UID:4a19fae190079b7a94ffe13ffc4421a8
DTSTAMP:20240429T065909Z
SUMMARY:Andrea Pozzi\, Einaudi Institute of Economics
DESCRIPTION: \n\n“Price of Dynamics with Customer Markets”\n\nWe provid
 e new evidence of the relationship between rm pricing and\ncustomer dynami
 cs. We build and quantify a model where rms choose\nprices taking into acc
 ount their eect on the evolution of their\ncustomer base\, and customers f
 ace frictions to reallocate to other\nrms. The model accounts for salient 
 features of retail price data\,\nsuch as the high kurtosis of the price di
 stribution and the low\npass-through of cost shocks. We also study aggrega
 te dynamics in our\nframework and show that microfounding customer realloc
 ation leads to a\ncountercyclical response of markups to demand shocks. JE
 L\nclassication: E30\, E12\, L16 Keywords: customer markets\, price\nsetti
 ng\, product market frictions\n 
DTSTART:20150410T180000Z
DTEND:20150410T193000Z
LOCATION:Gerri C. LeBow Hall\, 3220 Market Street\, 722\, Philadelphia\, PA
  19104
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