Sticky Prices : An Empirical Assessment of Alternative Models

An Empirical Assessment of Alternative Models

Sticky Prices : An Empirical Assessment of Alternative Models
This paper presents a model of staggered price setting that allows for a flexible distribution of the durations of the prices underlying aggregate price behavior, and estimates it with U.S. data. When tested against an unrestricted version of this model, standard models of sticky prices are rejected. In contrast, a stylized model that assumes a... READ MORE...

Publication date: May 1999
ISBN 9781451849325
$15.00

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