000			01221nam a22001577a 4500
999			_c517412 _d517412
008			210714b ||||| |||| 00| 0 eng d
100			_aCarvalho, Carlos., Lee, Jae Won and Park, Woong Yong _926619
245			_aSectoral price facts in a sticky-price model
260			_aAmerican Economic Journal: Macroeconomics
300			_a13(1), Jan, 2021: p.216-256
520			_aWe develop a multisector sticky-price DSGE model that can endogenously deliver differential responses of prices to aggregate and sectoral shocks. Input-output production linkages and a (standard) monetary policy rule contribute to a slow response of prices to aggregate shocks. In turn, labor market segmentation at the sectoral level induces within-sector strategic substitutability in price-setting decisions, which helps the model deliver a fast response of prices to sector-specific shocks. We estimate the model using aggregate and sectoral price and quantity data for the United States and find that it accounts well for a range of sectoral price facts.- Reproduced
650			_aInterest Rates: Determination, Term Structure _926620
773			_aAmerican Economic Journal: Macroeconomics
906			_aMONETARY POLICY
942			_cAR