Measuring the importance of the uniform nonsynchronization hypothesis

Dias, Daniel; Marques, Carlos Robalo; Silva, João Santos

http://hdl.handle.net/10400.5/23763

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Autores

Dias, Daniel

Marques, Carlos Robalo

Silva, João Santos

Resumo(s)

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 signi - cance 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.

Palavras-chave

Time-Dependent Price Setting Models Uniform Staggering Perfect Synchronization

URI

http://hdl.handle.net/10400.5/23763

Citação

Dias, Daniel. Carlos Robalo Marques e João Santos Silva (2006). "Measuring the importance of the uniform nonsynchronization hypothesis". Banco de Portugal. Economic and Research Department. Working Papers nº 2 | 2006

Editora

Banco de Portugal

Coleções

DCS - Documentos de trabalho / Working Papers

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