Testing for asymmetric price stickiness using NZ business opinion data: a bootstrap approach
The analysis of business opinion data price expectations data in NZ is re-evaluated. Biases induced by inaccurate measurement of population proportions are accounted for using simulations and bootstrapping. While substantial biases in the parameters are identified, prices are found to be relatively upwardly rigid before and after bias correction.
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Volume (Year): 10 (2003)
Issue (Month): 15 ()
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- Kovenock, Dan & Widdows, Kealoha, 1998.
"Price leadership and asymmetric price rigidity,"
European Journal of Political Economy,
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- Barro, Robert J, 1972. "A Theory of Monopolistic Price Adjustment," Review of Economic Studies, Wiley Blackwell, vol. 39(1), pages 17-26, January.
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- Jan Marc Berk, 1999. "Measuring inflation expectations: a survey data approach," Applied Economics, Taylor & Francis Journals, vol. 31(11), pages 1467-1480.
- Balcombe, Kelvin, 1996. "The Carlson-Parkin method applied to NZ price expectations using QSBO survey data," Economics Letters, Elsevier, vol. 51(1), pages 51-57, April.
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