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On implications of micro price data for macro models - comments


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.

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Conference Series ; [Proceedings]

Publication Date: 2008

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