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dc.contributor.authorDixon, H.
dc.contributor.authorLe Bihan, Herve
dc.date.accessioned2017-08-24T02:19:52Z
dc.date.available2017-08-24T02:19:52Z
dc.date.created2017-08-23T07:21:43Z
dc.date.issued2012
dc.identifier.citationDixon, H. and Le Bihan, H. 2012. Generalised Taylor and Generalised Calvo Price and Wage Setting: Micro-evidence with Macro Implications. The Economic Journal. 122 (560): pp. 532-554.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/55666
dc.identifier.doi10.1111/j.1468-0297.2012.02497.x
dc.description.abstract

The Generalised Calvo and the Generalised Taylor models of price and wage setting are, unlike the standard Calvo and Taylor counterparts, exactly consistent with the distribution of durations observed in the data. Using price and wage micro-data from a major euro area economy (France), we develop calibrated versions of these models. We assess the consequences for monetary policy transmission by embedding these calibrated models in a standard dynamic stochastic general equilibrium model. The Generalised Taylor model is found to help rationalise the hump-shaped and persistent response of inflation, without resorting to the counterfactual assumption of systematic wage and price indexation. © 2012 The Author(s). The Economic Journal © 2012 Royal Economic Society.

dc.publisherWiley-Blackwell
dc.titleGeneralised Taylor and Generalised Calvo Price and Wage Setting: Micro-evidence with Macro Implications
dc.typeJournal Article
dcterms.source.volume122
dcterms.source.number560
dcterms.source.startPage532
dcterms.source.endPage554
dcterms.source.issn0013-0133
dcterms.source.titleThe Economic Journal
curtin.departmentSchool of Economics and Finance
curtin.accessStatusFulltext not available


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