Data and Code for: Sectoral Price Facts in a Sticky-Price Model
- Carvalho, Carlos (PUC-Rio)
- Lee, Jae Won (University of Virginia)
- Park, Woong Yong (Seoul National University)
AbstractWe develop a multisector sticky-price DSGE model that can endogenously deliver differential responses of prices to aggregate and sectoral shocks. Input-output production linkages and a (standard) monetary policy rule contribute to a slow response of prices to aggregate shocks. In turn, labor market segmentation at the sectoral level induces within-sector strategic substitutability in price-setting decisions, which helps the model deliver a fast response of prices to sector-specific shocks. We estimate the model using aggregate and sectoral price and quantity data for the U.S., and find that it accounts well for a range of sectoral price facts.
1983-01-01 / 2008-06-30Time Period: Sat Jan 01 00:00:00 EST 1983--Mon Jun 30 00:00:00 EDT 2008
2013-01-31 / 2019-12-01Collection Date(s): Thu Jan 31 00:00:00 EST 2013--Sun Dec 01 00:00:00 EST 2019
Carvalho, Carlos, Jae Won Lee, and Woong Yong Park. “Sectoral Price Facts in a Sticky-Price Model.” American Economic Journal: Macroeconomics, n.d.
Update Metadata: 2020-12-18 | Issue Number: 1 | Registration Date: 2020-12-18