| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14303 |
| DP14303 Price elasticities and demand-side real rigidities in micro data and in macro models | |
| Günter Beck; Sarah Lein | |
| 发表日期 | 2020-01-13 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | High degrees of demand-side real rigidities are able to generate the large monetary non-neutrality found in aggregate data. This paper provides micro-based evidence on the key parameters governing this rigidity using European homescan data. We find strong evidence for demand-side real rigidity, which is, however, significantly lower than that normally assumed in macro models. In a menu-cost model calibrated to our estimates, we show that our estimates are associated with reasonable values for production-side parameters, but they are not able to generate the degree of monetary non-neutrality observed in macro data. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Demand curve Price elasticity Super-elasticity Price setting Real rigidities Monetary non-neutrality |
| URL | https://cepr.org/publications/dp14303 |
| 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/543194 |
| 推荐引用方式 GB/T 7714 | Günter Beck,Sarah Lein. DP14303 Price elasticities and demand-side real rigidities in micro data and in macro models. 2020. |
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