A Unified Framework for Using Micro-Data
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Dixon, Huw
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Article
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2012
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The Berkeley Electronic Press
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English
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This paper develops a statistical framework of steady-state identities which enable us to match the distributions of durations found in the micro-data to generalized Taylor and Calvo models of time-dependent pricing. We illustrate the approach with the UK micro CPI data for 1996-2009, and employ the