| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5284 |
| DP5284 Keynesian Economics, Monetary Policy and the Business Cycle - New and Old | |
| Alex Cukierman | |
| 发表日期 | 2005-10-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | This paper examines heterogeneity in price stickiness using a large, original, set of individual price data collected at the retail level for the computation of the French CPI. For that purpose, we estimate at a very high level of disaggregation competing-risks duration models that distinguish between price increases, price decreases and product replacements. The main findings are the following: i) cross-product and cross-outlet-type heterogeneity is pervasive, both in the shape of the hazard function and in the impact of covariates; ii) at the product-outlet type level, the baseline hazard function of a price spell is non-decreasing; iii) there is strong evidence of state dependence, especially for price increases. |
| 主题 | International Macroeconomics |
| 关键词 | Sticky prices Heterogeneity Hazard function Duration models |
| URL | https://cepr.org/publications/dp5284 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534160 |
| 推荐引用方式 GB/T 7714 | Alex Cukierman. DP5284 Keynesian Economics, Monetary Policy and the Business Cycle - New and Old. 2005. |
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