Calvo vs. Rotemberg in a trend inflation world: an empirical investigation

DOI10.1016/J.JEDC.2011.06.002zbMATH Open1283.91115OpenAlexW3020857451MaRDI QIDQ658634FDOQ658634

Authors: Guido Ascari, Efrem Castelnuovo, Lorenza Rossi 

Publication date: 13 January 2012

Published in: Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL: http://dem-web.unipv.it/web/docs/dipeco/quad/ps/RePEc/pav/wpaper/q108.pdf

Recommendations

• The inflation bias under Calvo and Rotemberg pricing
• On time-dependent nominal contracting models with positive trend inflation
• Pricing policies and inflation dynamics
• Fitting U.S. trend inflation: a rolling-window approach
• On the stability of Calvo-style price-setting behavior

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Dynamic stochastic general equilibrium theory (91B51)

Cites Work

• Stock market conditions and monetary policy in a DSGE model for the U.S.
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• Bayes Factors
• Bayesian Analysis of DSGE Models
• Monopolistic Price Adjustment and Aggregate Output
• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
• Nominal vs real wage rigidities in New Keynesian models with hiring costs: a Bayesian evaluation
• The welfare loss from unstable inflation
• Precautionary price stickiness
• Altruistic dynamic pricing with customer regret

Cited In (12)

• Uncertainty-dependent effects of monetary policy shocks: a new-Keynesian interpretation
• Optimal price setting and inflation inertia in a rational expectations model
• On the precision of Calvo parameter estimates in structural NKPC models
• Monetary policy and indeterminacy after the 2001 slump
• The inflation bias under Calvo and Rotemberg pricing
• Monetary policy and the relative price of durable goods
• On the stability of Calvo-style price-setting behavior
• Fitting U.S. trend inflation: a rolling-window approach
• Pricing policies and inflation dynamics
• Is Rotemberg pricing justified by macro data?
• Does inflation increase after a monetary policy tightening? Answers based on an estimated DSGE model
• Trend inflation, sticky prices, and expectational stability

Uses Software

• Dynare

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