@techreport{Dixon2010Unified,
abstract = {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 models of time-dependent pricing. We illustrate the approach with the UK micro CPI data for 2006-2009, and employ the pricing models in a simple macromodel. We find that the Generalized Taylor Economy generates a hump shaped response function, whilst the Generalized Calvo does not.},
address = {M\"{u}nchen},
author = {Huw David Dixon},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E50; 330; price-spell; steady state; hazard rate; Calvo; Taylor; Preisrigidit\"{a}t; Lohnrigidit\"{a}t; Station\"{a}re Volkswirtschaft; Preistheorie; Mikrodaten; Theorie},
language = {eng},
number = {3093},
publisher = {CESifo},
title = {A Unified framework for using micro-data to compare dynamic wage and price setting models},
type = {CESifo working paper Monetary Policy and International Finance},
url = {http://hdl.handle.net/10419/38984},
year = {2010}
}
