Arbeitspapier
Non-uniform staggered prices and output persistence
Staggered prices are a fundamental building block of New Keynesian dynamic stochastic general equilibrium models. In the standard model, prices are uniformly staggered but recent empirical evidence suggest that deviations from uniform staggering are common, This paper analyzes how synchronization of price changes affects the response to monetary policy shocks. I find that even large deviations from uniform staggering have small effects on the response in output. Aggregate dynamics in a model of uniform staggering may serve well as an approximation to a more complicated model with some degree of synchronization in price setting.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2009:19
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
- Thema
-
Price setting
Staggering
Synchronization
Persistence
Inflation
Konjunktur
Geldpolitik
Schock
Dynamisches Gleichgewicht
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Söderberg, Johan
- Ereignis
-
Veröffentlichung
- (wer)
-
Uppsala University, Department of Economics
- (wo)
-
Uppsala
- (wann)
-
2009
- Handle
- URN
-
urn:nbn:se:uu:diva-112807
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Söderberg, Johan
- Uppsala University, Department of Economics
Entstanden
- 2009
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