Empirical Investigation of a Sufficient Statistic for Monetary Shocks
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https://www.nber.org/papers/w29490
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资源简介：
In a broad class of sticky price models the non-neutrality of nominal shocks is encoded by a simple sufficient statistic: the ratio of the kurtosis of the size-distribution of price changes over the frequency of price changes. We test this theoretical prediction using data for a large number of
提供机构：
美国国家经济研究局
创建时间：
2021-11-01
