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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- Gwin, Carl R. & VanHoose, David D., 2008. "Alternative measures of marginal cost and inflation in estimations of new Keynesian inflation dynamics," Journal of Macroeconomics, Elsevier, vol. 30(3), pages 928-940, September.
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0306, Federal Reserve Bank of Dallas.
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