Arbeitspapier
On implications of micro price data for macro models
We review the recent literature that studies new, detailed micro data on prices. We discuss implications of the new micro data for macro models. We argue that the new micro data are helpful for macro models, but not decisive. There is no simple mapping from the frequency of price changes in micro data to impulse responses of prices and quantities to shocks. We discuss ideas that promise to deliver macro models matching the impulse responses seen in macro data while being broadly in line with micro data.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 960
- Klassifikation
-
Wirtschaft
- Thema
-
micro price data
models of price setting
real effects of nominal shocks
sticky prices
Preismanagement
Preisrigidität
Schock
Makroökonomik
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Maćkowiak, Bartosz
Smets, Frank
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Maćkowiak, Bartosz
- Smets, Frank
- European Central Bank (ECB)
Entstanden
- 2008
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