On implications of micro price data for macro models - comments

Virgiliu Midrigan

Conference Series ; [Proceedings], 2008

Abstract: 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.

Keywords: Unemployment; Phillips curve; Inflation (Finance) (search for similar items in EconPapers)
Date: 2008
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