Prices and unit labor costs: a new test of price stickiness $

By Argia M. Sbordone. 2002

910 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/15201bfef7050ddbde7e99d74cc580c8b75a5141

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Citations in the corpus

Endogenous Money or Sticky Prices? (2002, background): “Finally, Roberts, Stockton, and Struckmeyer (1994), Gali and Gertler (1999), and Sbordone (2002) also extend Rotemberg s (1982) work by developing and estimating models in which prices can either be sticky or ßexible and by testing for the statistical signiÞcance of parameters measuring the…”
Search and matching frictions and optimal monetary policy (2008, methodology): “Using the fact that, in the steady state, S w y = 1 " " S y and S y = (1 + ) sv , I nally obtain equation (43) in the text.”
The Lag from Monetary Policy Actions to Inflation: Friedman Revisited (2001, methodology): “This has included empirical work on the New Keynesian Phillips curve (NKPC) (see e.g. Sbordone 1998; Galí and Gertler 1999).”
Testing for Indeterminacy: An Application to U. S. Monetary Policy (2007, neutral): “The slope coefficient in the Phillips-curve is chosen to be consistent with the range of values typically found in the New-Keynesian Phillips-curve literature (see, for instance, Rotemberg and Woodford [28], Gaĺı and Gertler [11], and Sbordone [31]).”
Inflation Dynamics, Marginal Cost, and the Output Gap: Evidence from Three Countries (2005, methodology): “Alternative estimation techniques in Sbordone (2001, 2002) also support the cost-based NKPC.”
New measures of the output gap based on the forward-looking new Keynesian Phillips curve (2007, background): “A number of recent researchers (see Gali and Gertler (1999), Goodfriend and King (1997), Rotemberg and Woodford (1997), Sbordone (2002) among others) have used Calvo (1983) type of nominal rigidity to derive the forward-looking Phillips curve from an optimizing model.”
Optimal fiscal and monetary policy under sticky prices (2004, positive): “To calibrate the degree of price stickiness, we use Sbordone’s [22] estimate of a linear new-Keynesian Phillips curve.”
Inflation Dynamics with Search Frictions: A Structural Econometric Analysis (2008, methodology): “19As shown by Sbordone (2002), Rotemberg s menu cost model of price rigidity due to rms facing convex adjustment costs is observationally equivalent to a model based on Calvo (1983), where the price rigidity is determined by a random draw of the rms that are allowed to change prices.”
What's Up with the Phillips Curve? (2020, neutral): “It is based on the dependence of in ation on rms' marginal costs a fairly general feature of optimal pricing problems (Sbordone, 2002) in combination with some simplifying assumptions that make marginal costs proportional to the output gap.”
Has the Inflation Process Changed (2006, background): “Building on this insight, Sbordone (2002), Galí et al. (2001) and others have found that the predictions of the Calvo pricing model explain remarkably well the actual path of inflation, both at high and low frequency, over the postwar period (see Woodford, 2003, chapter 3 for a summary).”
Inflation Persistence and Optimal Monetary Policy in the Euro Area (2002, methodology): “We include a constant term in the regression, and the variables are deviations from the sample mean, see e.g. Galı́ and Gertler (1999) and Sbordone (2002).”
Identification Issues in Forward-Looking Models Estimated by GMM, with an Application to the Phillips Curve (2005, methodology): “Ft−1 with variance σ2 2 , and st is a measure of real unit labour costs in deviations from their steady state, which is used as a proxy for marginal costs following Sbordone (2002).1”
Labor Market Search and Monetary Shocks (2002, background): “This would imply a value of 0.67 for ω (Sbordone 2002) and this is taken as the baseline value.”
Identifying the Influences of Nominal and Real Rigidities in Aggregate Price-Setting Behavior (2007, background): “(20)This limited-information approach follows Taylor (1993) and Fuhrer and Moore (1995), and is similar in spirit to the approach of Sbordone (2002).”
Labor Market Search, Sticky Prices, and Interest Rate Policies (2005, neutral): “For instance, estimates reported by Galí and Gertler (1999) imply an average duration between price changes of twenty months, and the estimates of Sbordone (2002) imply individual prices are fixed on average for nine months.”