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Filtering by: Creator Luigi Paciello Keyword difference in price responsiveness Keyword sticky prices Subject Economics

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1. The Responsiveness of Prices to Aggregate Technology Shocks and Monetary Policy Shocks

Description:: I show that the speed of price adjustment to aggregate technology shocks is substantially larger than to monetary policy shocks. In the context of large Bayesian Vector Autoregression models, I establish that aggregate and disaggregate prices adjust very quickly to technology shocks, while they only respond sluggishly to monetary policy...
Keyword:: real effects of monetary policy shocks, difference in price responsiveness, aggregate technology shocks, rational inattention, and sticky prices
Subject:: Economics
Creator:: Luigi Paciello
Owner:: Scholarly Digital Publishing
Date Uploaded:: 09/18/2018
Date Modified:: 09/18/2018
Date Created:: 2008-07-07
Resource Type:: Dissertation