01647cas a2200241 a 4500 AALejournalIMF007586 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849325 1018-5941 BD-DhAAL BD-DhAAL Jadresic, Esteban. Sticky Prices : An Empirical Assessment of Alternative Models / Esteban Jadresic. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper presents a model of staggered price setting that allows for a flexible distribution of the durations of the prices underlying aggregate price behavior, and estimates it with U.S. data. When tested against an unrestricted version of this model, standard models of sticky prices are rejected. In contrast, a stylized model that assumes a trimodal distribution of price durations-with clusters on the first, fourth, and eighth quarter after prices are set-easily passes the same test. In addition, this model is able to replicate the dynamic behavior of inflation and output found in the data. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1999/072 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/072/001.1999.issue-072-en.xml IMF e-Library