 | Columbia University Verified email at columbia.edu Cited by 1024 |
E Nakamura… - The Quarterly Journal of …, 2008 - qje.oxfordjournals.org
Abstract We establish five facts about prices in the US economy:(1) For consumer prices, the
median frequency of nonsale price change is roughly half of what it is including sales (9–
12% per month versus 19–20% per month for identical items; 11–13% per month versus ...
Empirical evidence suggests that as much as 1/3 of the US business cycle is due to nominal
shocks. We calibrate a multi-sector menu cost model using new evidence on the cross-
sectional distribution of the frequency and size of price changes in the US economy. We ...
E Nakamura… - Review of Economic Studies, 2010 - Wiley Online Library
Recent theoretical work has suggested a number of potentially important factors in causing
incomplete pass-through of exchange rates to prices, including markup adjustment, local
costs and barriers to price adjustment. We empirically analyse the determinants of ...
E Nakamura… - Journal of Monetary Economics, 2011 - Elsevier
If consumers form habits in individual goods, firms face a time-inconsistency problem. Low
prices in the future help attract customers in the present. Firms, therefore, have an incentive
to promise low prices in the future, but price gouge when the future arrives. In this setting, ...
This paper studies how prices comove across products, firms and locations to gauge the
relative importance of retailer versus manufacturer-level shocks in determining prices. I
make use of a large panel data set on prices for a cross-section of retailers in the US I ...
We use rich historical data on military procurement spending across US regions to estimate
the effects of government spending in a monetary union. Aggregate military build-ups and
draw-downs have differential effects across regions. We use this variation to estimate an" ...
This paper evaluates the usefulness of neural networks for inflation forecasting. In a pseudo-
out-of-sample forecasting experiment using recent US data, neural networks outperform
univariate autoregressive models on average for short horizons of one and two quarters. A ...
The microdata underlying US import and export price indexes exhibit frequent product
turnover and highly rigid prices. As a consequence, 40% of products are replaced before a
single price change is observed and 70% are replaced after two price changes or less. An ...
Abstract We estimate an empirical model of consumption disasters using a new panel data
set on consumption for 24 countries and more than 100 years. The model allows for
permanent and transitory effects of disasters that unfold over multiple years. It also allows ...
This paper develops a simple model in which unemployment arises from a combination of
selection and bad luck. During recessions, the proportion of workers who are laid off due to
low productivity declines during recessions, diminishing the adverse signaling effect of an ...
We estimate an empirical model of consumption disasters using a new panel data set on
personal consumer expenditure for 24 countries and more than 100 years, and study its
implications for asset prices. The model allows for permanent and transitory effects of ...
AO Nakamura, KL Shaw, RB Freeman,
E Nakamura… - 2009 - nber.org
... Chapter Title: Jobs Online Chapter Author: Alice O. Nakamura, Kathryn L. Shaw, Richard
B. Freeman, Emi Nakamura, Amanda Pyman ... 1 Jobs Online Alice O. Nakamura, Kathryn
L. Shaw, Richard B. Freeman, Emi Nakamura, and Amanda Pyman ...
[CITATION] VPass% Through in Retail and WholesaleV
E Nakamura - American Eco, 2008
Abstract The empirical success of RBC models is often judged by their ability to explain the
behavior of a multitude of real macroeconomic variables using a single exogenous shock
process. This paper shows that in a model with the same basic structure as the bare ...
[CITATION] iFive Facts About Prices: A Reevalua $ tion of Menu Cost Modelsj
E Nakamura… - forthcoming The Quarterly Journal of Economics, 2008
T Nakajima, A Nakamura,
E Nakamura… - Empirica, 2007 - Springer
Abstract An important economic policy issue is to ascertain when and if technical change
(TC) is driving measured growth in productivity. Was this the case for Japan during the late
1980s when a massive financial bubble was being formed? This paper addresses this ...
AO Nakamura,
E Nakamura… - Journal of Econometrics, 2011 - Elsevier
We use a large scanner price dataset to study grocery price dynamics. Previous analyses
based on store scanner data emphasize differences in price dynamics across products.
However, we also document large differences in price movements across different grocery ...
[CITATION] VFive Facts About Prices: A Reevaluation of the Menu Cost ModelsV manuscript
E Nakamura… - Harvard University, 2007
[CITATION] kFive Facts About Prices: A Reevaluation of Menu Cost Models, lmimeo
E Nakamura… - 2007
[CITATION] Demand Shifts and Real GDP Measurement
E Nakamura - 2004 - mimeo
[CITATION] More Facts about Prices—Supplement to 'Five Facts about Prices.'
E Nakamura… - 2008
T Nakajima, A Nakamura,
E Nakamura… - 2003 - repec.org
One of the important public policy issues in science and technology is to ascertain if and
how firms' investments in research and development (R&D) contribute to technical change
(TC) at firm and industry levels. Griliches (1979) made the pioneering contribution to our ...
WE Diewert, T Nakajima, A Nakamura… - Canadian Journal …, 2011 - Wiley Online Library
Abstract There is policy interest in factoring productivity growth into technical progress and
returns to scale components. Our approach uses exact index number methods to reduce the
parameters that must be estimated, and allows us to exploit the cross-sectional dimension ...
[CITATION] Five Facts about Prices: A Reevaluation of
E Nakamura… - 2008
Abstract This paper investigates the implications of demand shocks for real GDP
measurement. Traditionally, index number theory proceeds under the assumption of fixed
preferences. However, historical data on alternative quantity indexes for US real GDP ...
[CITATION] Five Facts about Prices: AR?? valuation of Menu Cost Models
E Nakamura… - 2007
[CITATION] qAccounting for incomplete pass (throughr
E Nakamura… - Unpublished working paper, 2007
E Nakamura… - unpublished, Columbia University, 2009 - columbia.edu
Bils and Klenow (2004) report that the median frequency of price change including price
changes that occur because of sales and product substitution in 1995-1997 was 20.9%. The
corresponding median implied duration is 4.3 months. We report that the median ...
[CITATION] Five Facts About Prices: A Reevalutaion of Menu Cost Models", manuscript
E Nakamura… - 2007
[CITATION] VFive Facts About Prices: A Reevaluation of Menu Cost ModelsV
N Emi… - 2006 - Mimeo, Columbia University
[CITATION] Price Setting in Forward Looking Customer Markets, Columbia University
J Steinsson… - 2008 - unpublished manuscript
E Nakamura… - Harvard University, Department of Economics, …, 2003 - Citeseer
In some situations, the appropriate model of one's environment is quite clear—for example,
for a flip of a coin or a throw of a die. But this is not the case for most economic situations.
Consider a worker who is trying to predict whether his firm will lay him off next month or a ...
E Nakamura - Economic Inquiry, 2009 - Wiley Online Library
The empirical success of Real Business Cycle (RBC) models is often judged by their ability
to explain the behavior of a multitude of real macroeconomic variables using a single
exogenous shock process. This paper shows that in a model with the same basic structure ...
[CITATION] Real GDP and the Concept of Quantity
E Nakamura - 2002 - … available at http://www. harvard. edu …
E NAKAMURA - Journal of UOEH, 2009 - cat.inist.fr
Résumé/Abstract For the purpose of clarifying the relationship between job, life-satisfaction
and motivation for learning of nurses, a questionnaire survey by mailing method was
conducted for 123 nurses (52.6% response rate) within the Kyushu area. The analysis ...
Abstract This paper points out that the real GDP statisics respond differently to sectorspecific
demand and supply shocks for the exactly same changes in physical quantities. The paper
illustrates how this property arises from the theoretical quantity aggregates that real GDP ...
E Leibtag, A Nakamura,
E Nakamura… - 2008 - ers.usda.gov
A perennial issue in economics is the effect of changes in commodity prices on manufacturer
and retail food prices. The traditional explanation is that the extent to which cost increases
are “passed through” in a vertically organized production process depends on the market ...
Some sectors of the economy—particularly certain types of durable goods—exhibit a
substantial amount of product turnover. Since product introduction involves a pricing
decision, product introduction is an additional source of price flexibility. However, since ...
[CITATION] Measuring Price Rigidities
A Nakamura, K Shaw, R Freeman,
E Nakamura… - 2011 - papers.ssrn.com
... Chapter Title: Jobs Online Chapter Author: Alice O. Nakamura, Kathryn L. Shaw, Richard
B. Freeman, Emi Nakamura, Amanda Pyman ... 1 Jobs Online Alice O. Nakamura, Kathryn
L. Shaw, Richard B. Freeman, Emi Nakamura, and Amanda Pyman ...
E Nakamura, M Nakamura… - Econometric Society 2004 …, 2004 - ideas.repec.org
One of the important public policy issues in science and technology is to ascertain if and
how firms' investments in research and development (R&D) contribute to technical progress
at firm and industry levels. Griliches (1979) made a pioneering contribution to our ...
Abstract: My thesis focuses on the question of how firms adjust prices in reponse to
changing economic conditions. In the first chapter, written jointly with J? n Steinsson, I use
the price microdata underlying the US consumer and producer price indexes to document ...
E Nakamura - POLICY, 2000 - irpp.org
IRPP ten jobs through the career services office or the co-op program, but of course these
resources are unavailable to me, and since Princeton doesn't finish until the end of May, it is
difficult for me to search for a job or a summer internship at home. I brought up the issue of ...
[CITATION] Can a Monetary Model Replicate the Success of RBC?
We employ a Bayesian MCMC algorithm to estimate our model. More specifically, we
employ a Metropolized Gibbs sampling algorithm to sample from the joint posterior
distribution of the unknown parameters and variables conditional on the data. This ...
Abstract In this paper we seek to explain the behavior of the long term interest rate in the US
over the last 50 years using the idea that investors had only limited information about the
process generating short term interest rates. Investors are assumed to behave according ...
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