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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/65749
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Dixon, Huw David | | en_US |
| dc.date.accessioned | | 2010-02-24 | | en_US |
| dc.date.accessioned | | 2012-11-02T14:27:15Z | | - |
| dc.date.available | | 2012-11-02T14:27:15Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/65749 | | - |
| dc.description.abstract | | This paper argues that the cross-sectional approach to durations is essential to understand nominal rigidity because this captures the fact that price-spells are generated by firms' price-setting behavior. Since the distribution of durations is dominated by a proliferation of short contracts, the cross-sectional measure corrects for this by length-biased sampling. Modelling the price-spell durations in this way enables us to see how Taylor, Calvo and their generalizations relate to each other, and enable us to compare price-setting behavior for a given distribution of durations. We also show how the micro-data can be directly related to the macroeconomic pricing models in this setting. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Cardiff Univ, Cardiff Business School, Economics Section Cardiff | | en_US |
| dc.relation.ispartofseries | | Cardiff Economics Working Papers E2009/20 | | en_US |
| dc.subject.jel | | E50 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | price-spell | | en_US |
| dc.subject.keyword | | steady state | | en_US |
| dc.subject.keyword | | hazard rate | | en_US |
| dc.subject.keyword | | Calvo | | en_US |
| dc.subject.keyword | | Taylor | | en_US |
| dc.subject.stw | | Preisrigidität | | en_US |
| dc.subject.stw | | Lohnrigidität | | en_US |
| dc.subject.stw | | Stationäre Volkswirtschaft | | en_US |
| dc.subject.stw | | Preistheorie | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | A unifed framework for understanding and comparing dynamic wage and price setting models | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 613124499 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Cardiff Economics Working Papers
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