Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/153040 
Year of Publication: 
2006
Series/Report no.: 
ECB Working Paper No. 606
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
In this paper we critically reappraise some measures of the importance of time-dependent price setting rules and propose an alternative way to gauge the significance of this type of price setting behaviour. The merits of the proposed measure are highlighted in an application using micro-data. Our results suggest that a large proportion of price trajectories may be compatible with simple time-dependent price setting mechanisms but the strength of this evidence very much depends on the way that is used to evaluate the importance of this type of behaviour.
Subjects: 
perfect synchronization
Time-dependent price setting models
uniform staggering
JEL: 
D40
E31
L11
Document Type: 
Working Paper

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