Sectoral heterogeneity in nominal price rigidity and the origin of aggregate fluctuations (Record no. 525949)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01559nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240426b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Pastén, E., Schoenle, R. and Weber, M. |
| 245 ## - TITLE STATEMENT | |
| Title | Sectoral heterogeneity in nominal price rigidity and the origin of aggregate fluctuations |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | American Economic Journal: Microeconomics |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 16(2), Apr, 2024: p.318-352 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | We study the role of heterogeneity in nominal price rigidity for aggregate fluctuations in a model with sectoral productivity shocks. Theoretically, sectoral heterogeneity in the pricing friction has an ambiguous effect on GDP and aggregate price volatility. Quantitatively, (i) GDP volatility is amplified when the friction is heterogeneous rather than homogeneous; (ii) sectoral shocks can jointly rationalize the volatility of sectoral prices, aggregate prices, and GDP, unlike aggregate shocks; and (iii) shocks to the largest or most central sectors may not matter in the aggregate as heterogeneous pricing frictions may alter the identity of the most important sectors for aggregate fluctuations.- Reproduced https://www.aeaweb.org/articles?id=10.1257/mac.20210460 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Macroeconomics, nominal price rigidity, aggregate fluctuations, sectoral productivity shocks, sectoral heterogeneity, GDP volatility, aggregate price volatility, pricing friction, economic models, aggregate shocks, central sectors, sectoral prices |
| 9 (RLIN) | 51899 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | American Economic Journal: Microeconomics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | MACRO-ECONOMICS |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-04-26 | 16(2), Apr, 2024: p.318-352 | AR131742 | 2024-04-26 | Articles |