This paper studies the business cycle implications of sectoral heterogeneity in price rigidity
using a highly disaggregated multi-sector model. The model is estimated by the Simulated …

The monthly frequency of price‐changes is a prominent feature of many studies of the CPI
micro‐data. In this paper, we see what the frequency implies for the behaviour of price …

This paper develops a statistical framework of steady-state identities which enable us to
match the distributions of durations found in the micro-data to generalized Taylor and Calvo …

Abstract We develop a New Keynesian (NK) model with endogenous price setting
frequency. Whether a firm updates its price is a discrete choice: when expected benefits …

This paper investigates price rigidity in UK consumer and producer markets, by estimating
the hazard functions of price changes in microdata which are then used in macrodata …

We study the individual price behaviour in India using monthly item-wise CPI prices during
2011–2019 and explore the impact of implementation of inflation targeting on price …

Existing micro evidence of firms' price changes tends to show a downward sloping hazard
rate–the longer the price of a product has remained the same, the less likely it is that the …

This study provides a meta-analysis of the Calvo parameter estimated within the new
Keynesian Phillips curve using a data set of 509 estimates from 40 studies published in a …

Allowing for price adjustment probabilities that vary with the number of periods since an item
last adjusted (mduration% dependencen) provides a significantly better fit of observed price …

This paper presents US and euro area estimates for a fully heterogeneous model, in which
there is a continuum of firms setting prices with a constant probability of adjustment, which …