Generalized Taylor and Generalized Calvo Price and Wage-Setting: Micro Evidence with Macro Implications
Generalized Taylor and Generalized Calvo Price and Wage-Setting: Micro Evidence with Macro Implications
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广义泰勒和广义卡尔沃价格和工资设定：具有宏观影响的微观证据
DOI：
10.2139/ssrn.1789622
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发表时间：
2010
期刊：
影响因子：
--
通讯作者：
Hervé le Bihan
中科院分区：
文献类型：
--
作者：
Huw D. Dixon;Hervé le Bihan
与标准的卡尔沃和泰勒模型不同，价格和工资设定的广义卡尔沃和广义泰勒模型与数据中观察到的持续时间分布完全一致。利用来自欧元区主要经济体（法国）的价格和工资微观数据，我们开发了这些模型的校准版本。我们通过将这些校准模型嵌入标准DSGE模型来评估货币政策传导的后果。人们发现，广义泰勒模型有助于使通胀的驼峰型反应合理化，而无需诉诸系统性工资和价格指数化的反事实假设。
The Generalized Calvo and the Generalized Taylor model of price and wage-setting are, unlike the standard Calvo and Taylor counterparts, exactly consistent with the distribution of durations observed in the data. Using price and wage micro-data from a major euro-area economy (France), we develop calibrated versions of these models. We assess the consequences for monetary policy transmission by embedding these calibrated models in a standard DSGE model. The Generalized Taylor model is found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of systematic wage and price indexation.
关税和税收改革：动态影响
DOI：
--
发表时间：
2006
期刊：
Journal of International Economics 68(2)
影响因子：
--
作者：
Naito;T.
通讯作者：
T.