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Measuring the Importance of the Uniform Nonsynchronization Hypothesis

Dias, Daniel A and Marques, Carlos Robalo and Santos Silva, Joao M C (2006) Measuring the Importance of the Uniform Nonsynchronization Hypothesis. Working Paper. Banco de Portugal, Economics and Research Department, Working Papers.

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In this paper we critically reappraise some measures of the importance of time-dependent price setting rules and propose an alternative way to gauge the significance of this type of price setting behaviour. The merits of the proposed measure are highlighted in an application using micro-data. Our results suggest that a large proportion of price trajectories may be compatible with simple time-dependent price setting mechanisms but the strength of this evidence very much depends on the way that is used to evaluate the importance of this type of behaviour.

Item Type: Monograph (Working Paper)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 07 Aug 2012 11:50
Last Modified: 07 Aug 2012 11:50

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