New Keynesian Economic (Bagian II)
The Staggering of Prices
Penjelasan New Keynesian tentang sticky prices sering menekankan bahwa tidak semua orang dalam perekonomian menentukan harga pada saat yang sama. Namun, penyesuaian harga sepanjang siklus perekonomian adalah staggered. Proses staggering menyulitkan untuk menetapkan suatu harga oleh karena perusahaan sangat memperhatikan harga produknya dibandingkan dengan perusahaan lain. Proses staggering dapat membuat keselurahan tingkat harga melakukan penyesuaian secara perlahan-lahan, meskupun ketika harga secara individual sering berubah.
Proses penyesuai harga dapat diilustrasikan sebagai berikut. Misalnya, pertama, penetapkan harga yang disinkronisasikan: setiap perusahaan menyesuaikan harganya pada setiap bulan. Jika suplai uang beredar menigkat dan permintaan agregat meningkat pada 10 Mei, maka output akan lebih tinggi dari 10 Mei ke 1 Juni, karena harga adalah fixed selama interval ini. Namun demikian, pada 1 Juni, semua perusahaan akan menaikkan harga mereka untuk merespon permintaan agregat yang tinggi, yaitu boom pada tiga minggu terakhir.
Apabila, sekarang dimisalkan penetapan harga adalah staggered: sebagian perusahaan menetapkan harga pada setiap awal bulan dan sebagian lagi pada hari ke limabelas. Jika suplai uang beredar meningkat pada 10 Mei, maka sebagaian perusahaan-perusahaan dapat menaikkan harga pada 15 Mei dan sebagaian perusahaan-perusahaan lainya tidak akan mengubah harga pada hari kelimabelas. Perbedaan harga relatif ini, akan mengakibatkan sebahagian perusahaan akan kehilangan customers. Oleh sebab itu, sebagian perusahaan yang merubah harga mungkin dengan menaikan harganya tidak banyak. (Ini kontras, jika semua perusahaan melakukan sinkronisasi harga, sehingga tidak berpengaruh pada harga relative). Jika perusahaan yang merubah harga pada 15 Mei dengan penyesuaian harga sedikit, maka pada gilirannya perusahaan lain akan melakukan penyesuaian sedikit juga pada 1 Juni, karena mereka juga ingin menghindari perubahan harga relatif. Tingkat harga akan meningkat secara perlahan sebagai hasil dari kenaikan harga kecil pada awal dan hari kelimabelas setiap bulannya. Oleh karena itu, proses staggering membuat tingkat harga berubah lambat, karena tidak ada perusahaan berkeinginan untuk menjadi yang pertama dalam kenaikan harga yang besar.
Bersambung……
Sumber:
- Mankiw, N. Gregory, and David Romer, eds. New Keynesian Economics. 2 vols. Cambridge: MIT Press, 1991.
- N. Gregory Mankiw is a professor of economics at Harvard University. (http://gregmankiw.blogspot.com/).
- Clarida, Richard, Jordi Gali, and Mark Gertler. “The Science of Monetary Policy: A New Keynesian Perspective.” Journal of Economic Literature 37 (1999): 1661–1707.
- Goodfriend, Marvin, and Robert King. “The New Neoclassical Synthesis and the Role of Monetary Policy.” In Ben S. Bernanke and Julio Rotemberg, eds., NBER Macroeconomics Annual 1997. Cambridge: MIT Press, 1997. Pp. 231–283.
Filed under: Menu Cost, New Classical, New Keynesian, school of thought, sticky prices
I think Greenspan is getting senile, today he said that you can stop asset bubbles by increasing capital requirements. That just increases the cost of credit. The next time you have a real estate bubble, you’ll have the same problem, assuming that banks are still in the business of loaning against real estate. If you want to stop this problem, then eliminate the federal subsidies for real estate development and investment, then require people in that industry to put their own money at risk instead of someone elses. If Greenspan really wants to change the banking system, though, then simply ban 95% and 90% LTV loans. Require a bigger equity cushion. BTW, the “too big to fail” argument is a fallacious one. During the Great Depression, Canada had no bank failures. The reason was that their banks were very large. The banks closed branches, etc., but none of them failed. By contrast, the US was dominated by thousands of very small banks, and we had more than 10,000 of them fail. So there is nothing inherently unsafe about a banking system dominated by large banks. The real problem with large banks is that during good times, they don’t provide enough competition for each other.
artikel anda sangat menarik untuk saya baca…
Awesome post, I’m regular visitor of your site, keep up the great work, and I’ll be a regular visitor for a long time.
Very greatful for the information presented. I have a great time reading your content. Keep it up.
SANJOYO BLOG New Keynesian Economic Bagian II very nice, This article write well. I has been collection it. 2010/62/62
This is a great web blog. we visit here frequently and we get always valuable updates, Thanks!
Thanks for the well-thought article. I am actually at work at the moment! So I need to go off without reading all I’d like. However, I put your blog on my google feed so that I can read more.
Welcome First time jumped here on your site, found on Yahoo. It really helps to have sombody to talk to other then my divorced parents. Thanks again Mrs. Grey.
Hey There, this weblog seems funny and narrow when I open it using Opera. Nonetheless, it seems to be fine in IE. Does anyone else observe this?
Very long time reader first comment. Hey I favor what I’m reading looking over your site and must say nice. I’ve a little blog myself about this topic. I ran across your internet site through google I really hope I buy traffic much like your site soon. I guess . Well wanted good posts on health I’ve enjoyed. The comments really are a bit short I found your website through Google.
Vicodin without prescription….
Mexican vicodin….
Animal sex….
Animal sex….
Xanax bars….
Xanax withdrawal symptoms. Buy xanax online. Xanax. Geniric xanax. Xanax side effects. No prescription xanax generic….
Cialis best price buy online….
Viagra vs cialis. Buy cialis. Cheapest cialis. How cialis works. Metaprolol cialis. Cialis….
I love this product. My only complaint about my new iPad is that my roommate constantly wants to borrow it! And it seems like every time he returns it to me, the screen is all sticky
Definitely keep the reviews on the Kindle coming.. I’m very skeptical of the device at the moment (lack of PDF, fees in every corner)… but would love to eventually get an ereader.
I am a student and currently studying Forensic Science, but the information on your site helped me in one of my recent projects I was working on. I have provided the link to your site in my report and actually posted a link back on my education blog. Hopefully that will get some additional respect to you, as you deserve it. Thank you.
What an excellent blog post. I just thought I would share that.
kayaknya ada yang aneh dengan blog ini..
wow! nice!!!
На нашем сайте представлены обзоры мобильных телефонов, гаджетов, смартфонов и коммуникаторов. Есть статьи на тему советы покупателям
hi everybody !!! It’s a nice information !!! bye
I can’t but agree.I always wanted to write in my site something like that but I guess you’r faster.
This is among the most extraordinary blogs Ive understand in the extremely extended time. The volume of details in here is breathtaking, like you practically wrote the book about the subject. Your website is fantastic for everyone who wishes to recognize this subject additional. Fantastic stuff; please keep it up!
Search sex partners
Quite possibly the most to the point and also up-to-date data I recently found on that area. I am sure lucky that I discovered that site by accident. I’ll be signing up for the feed to ensure that I’m able to have the most recent updates. Like the information here.
Quite possibly the most helpful plus up to date info I discovered on that subject matter. I am sure lucky that I come across the site by chance. I’ll be signing up for the feed so that I can obtain the newest updates. Love all the details here.
mannnnnnnn otter box need to bring they ass on with this damn i cellular phone event!
Really a helpful post. Thank you very much for sharing this details…
Thank you for another great entry. Where else would anybody get this kind of information in such a great way of presentation.
бульдог боксер Майк Тайсон / Mike Tyson
nice!
Личный блог о мыслях и интересностях в сети.
[...]А вот хорошая статья на эту тему[...]
What ever happend to this?
Advantageously, the post is actually the sweetest topic on this registry related issue. I fit in with your conclusions and will thirstily look forward to your future updates. Just saying thanks will not just be enough, for the extraordinary clarity in your writing. I will immediately grab your rss feed to stay informed of any updates.
Thanks for posting this info. I just want to let you know that I just check out your site and I find it very interesting and informative. I can’t wait to read lots of your posts. . . .
Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It’s always nice when you can not only be informed, but also entertained!
I thought it was going to be some boring old post, but it really compensated for my time. I will post a link to this page on my blog. I am sure my visitors will find that very useful. . . .
This is a really good read for me. Must admit that you are one of the coolest bloggers I ever saw. Thanks for posting this informative article.
tuexXDb
It’s good to see this information in your post, i was looking the same but there was not any proper resource, thanx now i have the link which i was looking for my research. . . . . .
I must say, I thought this was a pretty interesting read when it comes to this topic. Liked the material. . . . .
wow, great, I was wondering how to cure acne naturally. and found your site by google, learned a lot, now i’m a bit clear. I’ve bookmark your site and also add rss. keep us updated.
I really love going back to your site to read your story and see more pictures that are really taken with great care. . . . . .
I must say, I thought this was a pretty interesting read when it comes to this topic. Liked the material. . . . .
Cool post! How much stuff did you have to look up in order to write this one? I can tell you put some work in.
I have been visiting variousblogs for my dissertation study. I have found your blog to be fairlybeneficial. Keep updating your blog with usefulinformation… Regards
model company generation
retrieved home technology changes
You really make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complicated and very broad for me. I am looking forward for your next post.
It’s good to see this information in your post, i was looking the same but there was not any proper resource, thanx now i have the link which i was looking for my research. . . . . .