Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/29805 
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dc.contributor.authorDöpke, Jörgen
dc.contributor.authorFunke, Michaelen
dc.contributor.authorHolly, Seanen
dc.contributor.authorWeber, Sebastianen
dc.date.accessioned2009-06-12-
dc.date.accessioned2010-02-04T13:06:46Z-
dc.date.available2010-02-04T13:06:46Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x896en
dc.subject.jelD12en
dc.subject.jelE52en
dc.subject.jelE43en
dc.subject.ddc330en
dc.subject.keywordNew-Keynesian macroeconomicsen
dc.subject.keywordDSGEen
dc.subject.keywordcross-sectional distributionen
dc.subject.keywordfirm growthen
dc.subject.stwKonjunkturen
dc.subject.stwInflationen
dc.subject.stwUnternehmensentwicklungen
dc.subject.stwUngleichgewichtstheorieen
dc.subject.stwDynamisches Gleichgewichten
dc.subject.stwPreisrigiditäten
dc.subject.stwTheorieen
dc.subject.stwBilanzen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleThe cross-section of output and inflation in a dynamic stochastic general equilibrium model with sticky prices-
dc.type|aWorking Paperen
dc.identifier.ppn60170374Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp896en

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