Measuring the Importance of the Uniform Nonsynchronization Hypothesis

descriptionPublicationkeyboard_double_arrow_right Article , Research , Preprint , Book 01 Jan 2006 Portugal, Portugal, United Kingdom English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Dias, Daniel A; Marques, Carlos Robalo; Santos Silva, Joao M C;

doi: 10.2139/ssrn.890991

handle: 10400.5/23763 , 10419/153040

Measuring the Importance of the Uniform Nonsynchronization Hypothesis

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Abstract

In this paper we critically reappraise some measures of the importance of time- dependent price setting rules and propose an alternative way to gauge the signi - cance of this type of price setting behaviour. The merits of the proposed measure are highlighted in an application using micro-data. Our results suggest that a large proportion of price trajectories may be compatible with simple time-dependent price setting mechanisms but the strength of this evidence very much depends on the way that is used to evaluate the importance of this type of behaviour.

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Portugal, Portugal, United Kingdom

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Keywords

HB Economic Theory, Marktmechanismus, Perfect Synchronization, perfect synchronization, Time-Dependent Price Setting Models, 330, ddc:330, Time-dependent price setting models, L11, perfect synchronization, Time-dependent price setting models, uniform staggering, D40, uniform staggering, Uniform Staggering, E31, Theorie

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