Durable goods and sticky prices: Industry-level evidence
We employ industry data to examine price stickiness of durables versus non-durables to evaluate Barsky et al. (2007) proposal that stickiness of durables’ prices influences aggregate dynamics. Policy impacts from impulse responses accord with sticky-price frameworks even though non-durables’ prices are relatively flexible.
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- Gali, Jordi & Gertler, Mark, 1999.
"Inflation dynamics: A structural econometric analysis,"
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Elsevier, vol. 44(2), pages 195-222, October.
- Jordi Galí & Mark Gertler, 1998. "Inflation dynamics: A structural econometric analysis," Economics Working Papers 341, Department of Economics and Business, Universitat Pompeu Fabra.
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- Robert B. Barsky & Christopher L. House & Miles S. Kimball, 2007. "Sticky-Price Models and Durable Goods," American Economic Review, American Economic Association, vol. 97(3), pages 984-998, June.
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