What Do Micro Price Data Tell Us on the Validity of the New Keynesian Phillips Curve?

Please use this identifier to cite or link to this item: http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17969

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DC Field	Value	Language
dc.creator	Álvarez, Luis J.	-
dc.date	2007	-
dc.date.accessioned	2013-10-16T06:57:39Z	-
dc.date.available	2013-10-16T06:57:39Z	-
dc.date.issued	2013-10-16	-
dc.identifier	http://hdl.handle.net/10419/17969	-
dc.identifier	ppn:558412378	-
dc.identifier	RePEc:zbw:ifwedp:6173	-
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/17969	-
dc.description	The New Keynesian Phillips curve (NKPC) is now the dominant model of inflation dynamics. In recent years, a large body of empirical research has documented price-setting behaviour at the individual level, allowing the assessment of the micro-foundations of pricing models. This paper analyses the implications of 25 theoretical models in terms of individual behaviour and finds that they considerably differ in their ability to match the key micro stylised facts. However, none is available to account for all of them, suggesting the need to develop more realistic micro-founded price setting models.	-
dc.language	eng	-
dc.publisher	Kiel Institute for the World Economy (IfW) Kiel	-
dc.relation	Economics Discussion Papers / Institut für Weltwirtschaft 2007-46	-
dc.rights	http://creativecommons.org/licenses/by-nc/2.0/de/deed.en	-
dc.subject	D40	-
dc.subject	E31	-
dc.subject	ddc:330	-
dc.subject	Pricing models	-
dc.subject	micro data	-
dc.subject	Phillips Curve	-
dc.subject	hazard rate	-
dc.title	What Do Micro Price Data Tell Us on the Validity of the New Keynesian Phillips Curve?	-
dc.type	doc-type:workingPaper	-
Appears in Collections:	EconStor

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