Replication data for: Sticky-Price Models and Durable Goods
Principal Investigator(s): View help for Principal Investigator(s) Robert B. Barsky; Christopher L. House; Miles S. Kimball
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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AIM | 12/07/2019 12:39:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 12/07/2019 07:39:AM |
ReadMe_progs.pdf | application/pdf | 7.4 KB | 12/07/2019 07:39:AM |
gen_fig1_AER.m | text/plain | 10.3 KB | 12/07/2019 07:39:AM |
gen_fig2_3_AER.m | text/plain | 8 KB | 12/07/2019 07:39:AM |
gen_figA1_AER.m | text/plain | 8.7 KB | 12/07/2019 07:39:AM |
gen_table.m | text/plain | 2.6 KB | 12/07/2019 07:39:AM |
sub_cap.m | text/x-fortran | 14.5 KB | 12/07/2019 07:39:AM |
sub_durable.m | text/x-fortran | 13.5 KB | 12/07/2019 07:39:AM |
sub_durable_tab.m | text/x-fortran | 13.6 KB | 12/07/2019 07:39:AM |
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Project Citation:
Barsky, Robert B., House, Christopher L., and Kimball, Miles S. Replication data for: Sticky-Price Models and Durable Goods. Nashville, TN: American Economic Association [publisher], 2007. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116281V1
Project Description
Summary:
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The inclusion of a durable goods sector in sticky-price models has strong and unexpected implications. Even if most prices are flexible, a small durable goods sector with sticky prices may be sufficient to make aggregate output react to monetary policy as though most prices were sticky. In contrast, flexibly priced durables with sufficiently long service lives can undo the implications of standard sticky price models. In a limiting
case, flexibly priced durables cause monetary policy to have no effect on aggregate
output. Our analysis suggests that durable goods prices are the most relevant data for
calibrating price rigidity. (JEL E21, E23, E31, E52)
Scope of Project
JEL Classification:
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E21 Macroeconomics: Consumption; Saving; Wealth
E23 Macroeconomics: Production
E31 Price Level; Inflation; Deflation
E52 Monetary Policy
E21 Macroeconomics: Consumption; Saving; Wealth
E23 Macroeconomics: Production
E31 Price Level; Inflation; Deflation
E52 Monetary Policy
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