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On implications of micro price data for macro models - comments

Author

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  • Virgiliu Midrigan

Abstract

The 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.

Suggested Citation

  • Virgiliu Midrigan, 2008. "On implications of micro price data for macro models - comments," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 53.
  • Handle: RePEc:fip:fedbcp:y:2008:n:53:x:9
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    File URL: http://www.bostonfed.org/economic/conf/conf53/papers/Midrigan.pdf
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    References listed on IDEAS

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    Cited by:

    1. Emmanuel Dhyne & Jerzy Konieczny & Fabio Rumler & Patrick Sevestre, 2009. "Price rigidity in the euro area - An assessment," European Economy - Economic Papers 2008 - 2015 380, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    2. 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.
    3. 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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