On implications of micro price data for macro models - comments

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.

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Year of publication:	2008
Authors:	Midrigan, Virgiliu
Published in:	Conference Series ; [Proceedings]. - Federal Reserve Bank of Boston. - Vol. 53.2008
Publisher:	Federal Reserve Bank of Boston
Subject:	Inflation (Finance) \| Unemployment \| Phillips curve

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published in Understanding inflation and the implications for monetary policy: a Phillips curve retrospective (2008: June 9-11)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005498331