Price Setting in a Model with Production Chains : Evidence from Sectoral Data

Evidence from Sectoral Data

Price Setting in a Model with Production Chains : Evidence from Sectoral Data
Reconciling the high frequency of price changes at the micro level and their apparent rigidity at the aggregate level has been the subject of considerable debate in macroeconomics recently. In this paper I show that incorporating production chains in a standard New- Keynesian model replicates two stylized facts about the data. First, sectoral... READ MORE...

Publication date: March 2010
ISBN 9781451982664
$18.00

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