Replication data for: Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost
Principal Investigator(s): View help for Principal Investigator(s) Mikael Carlsson; Oskar Nordström Skans
Version: View help for Version V1
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LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 01:39:PM |
Project Citation:
Carlsson, Mikael, and Skans, Oskar Nordström. Replication data for: Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112531V1
Project Description
Summary:
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Using matched data on product-level prices and the producing firm's unit labor cost, we find a moderate pass-through of current idiosyncratic marginal-cost changes. Also, the
response does not vary across firms facing very different idiosyncratic shock variances, but identical aggregate conditions. These results do not fit the predictions of Mackowiak
and Wiederholt (2009). Neither do firms react strongly to predictable marginal-cost changes, as expected from Mankiw and Reis (2002). We find that firms consider both current and expected future marginal cost when setting prices. This points toward impediments to continuous price adjustments as a key driver of monetary non-neutrality.
Scope of Project
Subject Terms:
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Administrative data;
Survey Data
JEL Classification:
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D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
D86 Economics of Contract: Theory
E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
E32 Business Fluctuations; Cycles
E52 Monetary Policy
L11 Production, Pricing, and Market Structure; Size Distribution of Firms
D24 Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
D86 Economics of Contract: Theory
E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
E32 Business Fluctuations; Cycles
E52 Monetary Policy
L11 Production, Pricing, and Market Structure; Size Distribution of Firms
Geographic Coverage:
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Sweden
Time Period(s):
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1990 – 2002
Data Type(s):
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survey data;
administrative records data
Methodology
Data Source:
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Statistics Sweden
Unit(s) of Observation:
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Plants,
Goods and Workers,
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