Evaluating the Calvo model of sticky prices
By: Martin Eichenbaum, Jonas D.M. Fisher.
Contributors: Fisher, Jonas D. M. 1965-
Series: Working paper series ;; WP-2003-23; Working paper series (Federal Reserve Bank of Chicago. Research Dept. : Online) ;; WP-2003-23.
Publisher: Federal Reserve Bank of Chicago
Published: 2003
Place of publication: [Chicago, Ill.]
Language: eng
Format: Electronic resource
Description: "This paper studies the empirical performance of a widely used model of nominal rigidities: the Calvo model of sticky goods prices.  We describe an extended version of this model with variable elasticity of demand of the dierentiated goods and imperfect capital mobility.  We find little evidence against standard versions of the model without the extensions, but the estimated frequency of price adjustment is implausible.  With the extended model the estimates are more reasonable.  This is especially so if the sample is split to take into account a possible change in monetary regime around 1980"--Federal Reserve Bank of Chicago web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 9/30/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.