On implications of micro price data for macro models - comments
AbstractThe author discusses: the challenges the wealth of micro-data has posed to macroeconomists and some of the progress made to address these; the fact that an important number of price changes in the data are temporary discounts (sales); and the complicated mapping from the frequency of price adjustment to the degree of monetary non-neutrality in economies that explicitly model price stickiness as arising from menu costs.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Boston in its journal Conference Series ; [Proceedings].
Volume (Year): 53 (2008)
Issue (Month): ()
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- Emmanuel Dhyne & Jerzy Konieczny & Fabio Rumler & Patrick Sevestre, 2009. "Price rigidity in the euro area - An assessment," European Economy - Economic Papers 380, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
- Marcelo Sánchez, 2011. "Oil shocks and endogenous markups: results from an estimated euro area DSGE model," International Economics and Economic Policy, Springer, vol. 8(3), pages 247-273, September.
- Carla Ysusi, 2010. "Consumer Price Behavior in Mexico Under Inflation Targeting: A Microdata Approach," Working Papers 2010-09, Banco de México.
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