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dc.contributor.authorDöpke, Jörgen_US
dc.contributor.authorFunke, Michaelen_US
dc.contributor.authorHolly, Seanen_US
dc.contributor.authorWeber, Sebastianen_US
dc.date.accessioned2009-06-12en_US
dc.date.accessioned2010-02-04T13:06:46Z-
dc.date.available2010-02-04T13:06:46Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/29805-
dc.description.abstractIn a standard dynamic stochastic general equilibrium framework, with sticky prices, the cross sectional distribution of output and inflation across a population of firms is studied. The only form of heterogeneity is confined to the probability that the ith changes its prices in response to a shock. In this Calvo setup the moments of the cross sectional distribution of output and inflation depend crucially on the proportion of firms that are allowed to change their prices. We test this model empirically using German balance sheet data on a very large population of firms. We find a significant counter-cyclical correlation between the skewness of inflation and aggregates, but the relation with output is less sure. Our results can be interpreted as indirect evidence of the importance of price stickiness in macroeconomic adjustments.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 896en_US
dc.subject.jelD12en_US
dc.subject.jelE52en_US
dc.subject.jelE43en_US
dc.subject.ddc330en_US
dc.subject.keywordNew-Keynesian macroeconomicsen_US
dc.subject.keywordDSGEen_US
dc.subject.keywordcross-sectional distributionen_US
dc.subject.keywordfirm growthen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwInflationen_US
dc.subject.stwUnternehmensentwicklungen_US
dc.subject.stwUngleichgewichtstheorieen_US
dc.subject.stwDynamisches Gleichgewichten_US
dc.subject.stwPreisrigiditäten_US
dc.subject.stwTheorieen_US
dc.subject.stwBilanzen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleThe cross-section of output and inflation in a dynamic stochastic general equilibrium model with sticky pricesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn60170374Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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DIW-Diskussionspapiere

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