| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15383 |
| DP15383 Measuring Price Selection in Microdata - It's Not There | |
| Peter Karadi; Raphael Schoenle; Jesse Wursten | |
| 发表日期 | 2020-10-19 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We use microdata to estimate the strength of price selection - a key metric for the effect of monetary policy on the real economy. We find that price adjustment pressure at the product level does not significantly influence the probability of price adjustment in response to identified monetary and credit shocks, suggesting price selection is absent. This happens even though prices do respond significantly both to aggregate shocks and product-level adjustment pressure directly. Our results are broadly consistent with second-generation state-dependent pricing models and sizable effects of monetary policy on the real economy. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Monetary non-neutrality State-dependent pricing Identified credit and monetary policy shocks Price-gap proxy Scanner data Ppi microdata |
| URL | https://cepr.org/publications/dp15383 |
| 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/544367 |
| 推荐引用方式 GB/T 7714 | Peter Karadi,Raphael Schoenle,Jesse Wursten. DP15383 Measuring Price Selection in Microdata - It's Not There. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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