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Selection Effects in Producer-Price Setting
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2014 (English)Report (Other academic)
Abstract [en]

We use micro data on product prices linked to information on the firms that set them to test for selection effects (state dependence) in micro-level producer pricing. In contrast to using synthetic data from a canonical menu-cost model, we find very weak, if any, micro-level selection effects when running price change probability regressions on actual data. Moreover, when fitting a model that nests both time- and state-dependent elements (the CalvoPlus model of Nakamura and Steinsson, 2010) to the data, the resulting parameters mimic the standard Calvo (1983) model. Thus, upstream in the supply chain, price-setting is best characterized as time-dependent.

Place, publisher, year, edition, pages
Uppsala, 2014. , 34 p.
Series
Working paper / Department of Economics, Uppsala University (Online), ISSN 1653-6975 ; 2014:6
Keyword [en]
Price-setting, Business Cycles, Micro Data
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:uu:diva-230460OAI: oai:DiVA.org:uu-230460DiVA: diva2:740718
Note

Second fulltext is an updated version of the first fulltext.

Available from: 2014-08-26 Created: 2014-08-26 Last updated: 2014-11-03Bibliographically approved

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Carlsson, Mikael

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
  • modern-language-association
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More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
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