Time-Varying Business Volatility and the Price Setting of Firms
NBER Working Paper No. 19180
---- Acknowledgements ----
We thank Christian Bayer, Joe Vavra, our discussants Pooyan Amir Ahmadi and Guido Schultefrankenfeld, and audiences at the Universities of Frankfurt, Kiel, Mannheim, Notre Dame, Siegen, Texas at Austin, Tübingen, Virginia at Charlottesville, at the Bundesbank, ifo Munich, the 2017 meeting of the Verein für Socialpolitik Committee on Monetary Theory and Policy, the 2013 NBER Summer Institute, the 2013 SITE Workshop on “The Macroeconomics of Uncertainty and Volatility”, the 2013 Frankfurt-Mannheim-Macro Workshop, the 2013 EEA/ESEM Meeting, the 2013 Verein für Socialpolitik Annual Meeting, the 2013 Royal Economic Society Annual Conference, the Padova Macroeconomic Meeting 2013, the 2013 Doctoral Workshop on Dynamic Macroeconomics Konstanz, the 13th IWH-CIREQ Workshop “Macroeconometrics and Panel Data”, and the 7th ifo Dresden “Workshop Makroökonomik und Konjunktur” for helpful feedback. We are grateful to Florian Peters from the German Federal Statistical Office for providing research assistance with the PPI data. This paper supplants earlier versions of this paper entitled “Time-Varying Business Volatility, Price Setting, and the Real Effects of Monetary Policy.” The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.