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Replication data for: Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost

Version
1
Resource Type
Dataset
Creator
  • Carlsson, Mikael
  • Skans, Oskar Nordström
Publication Date
2012-06-01
Description
  • Abstract

    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.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.102.4.1571 (Text)
Publications
  • Carlsson, Mikael, and Oskar Nordström Skans. “Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost.” American Economic Review 102, no. 4 (June 2012): 1571–95. https://doi.org/10.1257/aer.102.4.1571.
    • ID: 10.1257/aer.102.4.1571 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-11

Carlsson, Mikael; Skans, Oskar Nordström (2012): Replication data for: Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112531V1