Sticky Prices and Monetary Policy: Evidence from Disaggregated U.S. Data
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This paper disentangles fluctuations in disaggregated prices due to macroeconomic and sectoral conditions using a factor-augmented vector autoregression estimated on a large data set. On the basis of this estimation, we establish eight facts: (1) Macroeconomic shocks explain only about 15% of
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美国国家经济研究局创建时间：
2007-01-01
