The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Sticky Prices and Monetary Policy: Evidence from Disaggregated US Data
Abstract
This paper shows that the recent evidence that disaggregated prices are volatile does not necessarily challenge the hypothesis of price rigidity used in a large class of macroeconomic models. We document the effect of macroeconomic and sectoral disturbances by estimating a factor-augmented vector autoregression using a large set of macroeconomic indicators and disaggregated prices. Our main finding is that disaggregated prices appear sticky in response to macroeconomic and monetary disturbances, but flexible in response to sector-specific shocks. The observed flexibility of disaggregated prices reflects the fact that sector-specific shocks account on average for 85 percent of their monthly fluctuations. (JEL E13, E31, E32, E52)
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Cites
Estimating long-run relationships from dynamic heterogeneous panels
Pesaran, M. H., & Smith, R. (1995) · Journal of Econometrics · doi:10.1016/0304-4076(94)01644-f · Cited by 5,479
Inside the black box: the credit channel of monetary policy transmission
Bernanke, B. S., & Gertler, M. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.27 · Cited by 4,211
Cited by
Unobservable Selection and Coefficient Stability: Theory and Evidence
Oster, E. (2019) · Journal of Business & Economic Statistics · doi:10.1080/07350015.2016.1227711 · Cited by 5,367
Gupta, R., Kabundi, A., & Miller, S. M. (2011) · Economic Modelling · doi:10.1016/j.econmod.2011.04.005 · Cited by 72
Metadata
- Authors
- Boivin, J., Giannoni, M. P., & Mihov, I.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2009-02-01
- Volume
- 99
- Issue
- 1
- Pages
- 350-384
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2013716224
- Cited by
- 426
- References
- 2
- FWCI
- 84.57
- Type
- journal article
- Language
- en
- Open access
- closed
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- Boivin, J., Giannoni, M. P., & Mihov, I. (2009). Sticky Prices and Monetary Policy: Evidence from Disaggregated US Data. American Economic Review. https://doi.org/10.1257/aer.99.1.350
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