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Report
Menu costs at work: restaurant prices and the introduction of the euro
Restaurant prices in the euro area saw an unprecedented increase after the introduction of the euro. We use an extension of commonly used models of sticky prices and argue that the increase in restaurant prices can be explained by menu costs. The extension we use involves the state-dependent decision of firms about when to adopt the euro. Two main mechanisms drive the result. First, our model concentrates otherwise staggered price increases around the introduction of the euro. Second, before the adoption of the euro, prices do not reflect marginal cost increases expected to occur after the ...
Journal Article
1979 food and agricultural outlook
Journal Article
The quiet revolution in the U.S. food market
Journal Article
Noteworthy: agriculture: Texas rice acreage grows with prices
Journal Article
The U.S. farm export boom: how will it be shaped by global infrastructure?
A recent surge in U.S. agricultural exports has triggered a wave of optimism about the industry's prospects in the world food market. At the root of the industry's recent export gains are rapidly growing populations and incomes across Asia and Latin America. Adding fuel to U.S. agriculture's newfound optimism is the recent emergence of China--the world's most populous nation and most rapidly growing economy--as a net importer of food.> The world food market may not live up to current expectations, however, without substantial investment in food processing and distribution infrastructure in ...
Journal Article
Food takes a smaller bite in the USA
Journal Article
What Americans pay for food
Journal Article
Prospects for food and agriculture in 1975