| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21732 |
| 来源ID | Working Paper 21732 |
| Dynamics of the U.S. Price Distribution | |
| David Berger; Joseph Vavra | |
| 发表日期 | 2015-11-16 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We use microdata underlying U.S. consumer, producer and import price indices to document how the distribution of price changes evolves over time. Two striking features characterize pricing at each stage of production: 1) Frequency is countercyclical. 2) Frequency is correlated with variance. Conversely, other statistics which have received recent attention, like kurtosis, do not exhibit uniform patterns across our datasets. What implications do our empirical results have for monetary policy? Using a flexible accounting framework which collapses the high-dimensional distribution of price changes into a single measure of aggregate price flexibility, we show that flexibility is highly variable and countercyclical. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w21732 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579407 |
| 推荐引用方式 GB/T 7714 | David Berger,Joseph Vavra. Dynamics of the U.S. Price Distribution. 2015. |
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