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Replication data for: Sticky-Price Models and Durable Goods

Resource Type
  • Barsky, Robert B.
  • House, Christopher L.
  • Kimball, Miles S.
Publication Date
  • Abstract

    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)
  • Is supplement to
    DOI: 10.1257/aer.97.3.984 (Text)
  • Barsky, Robert B, Christopher L House, and Miles S Kimball. “Sticky-Price Models and Durable Goods.” American Economic Review 97, no. 3 (May 2007): 984–98.
    • ID: 10.1257/aer.97.3.984 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Barsky, Robert B.; House, Christopher L.; Kimball, Miles S. (2007): Replication data for: Sticky-Price Models and Durable Goods. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.