Data and Code for: Sectoral Price Facts in a Sticky-Price Model

Resource Type
Dataset : aggregate data, program source code
  • Carvalho, Carlos (PUC-Rio)
  • Lee, Jae Won (University of Virginia)
  • Park, Woong Yong (Seoul National University)
Publication Date
Free Keywords
  • Abstract

    We 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.
Temporal Coverage
  • 1983-01-01 / 2008-06-30
    Time Period: Sat Jan 01 00:00:00 EST 1983--Mon Jun 30 00:00:00 EDT 2008
  • 2013-01-31 / 2019-12-01
    Collection Date(s): Thu Jan 31 00:00:00 EST 2013--Sun Dec 01 00:00:00 EST 2019
Geographic Coverage
  • USA
This study is freely available to the general public via web download.
  • Is version of
    DOI: 10.3886/E116781
  • 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