Dias, Daniel A and Marques, Carlos Robalo and Santos Silva, Joao M C (2006) Measuring the importance of the uniform nonsynchronization hypothesis. Working Paper. European Central Bank, Working Paper Series.
Dias, Daniel A and Marques, Carlos Robalo and Santos Silva, Joao M C (2006) Measuring the importance of the uniform nonsynchronization hypothesis. Working Paper. European Central Bank, Working Paper Series.
Dias, Daniel A and Marques, Carlos Robalo and Santos Silva, Joao M C (2006) Measuring the importance of the uniform nonsynchronization hypothesis. Working Paper. European Central Bank, Working Paper Series.
Abstract
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. JEL Classification: D40; E31; L11.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Uncontrolled Keywords: | Time-dependent price setting models; uniform staggering; perfect synchronization. |
| 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 |
| URI: | http://repository.essex.ac.uk/id/eprint/3560 |