@article{Indexation-Based:1513,
      recid = {1513},
      author = {Dufour, Jean-Marie and Khalaf, Lynda and Kichian, Maral},
      title = {Assessing Indexation-Based Calvo Inflation Models},
      address = {2009},
      pages = {1 online resource (iii, 23 pages)},
      abstract = {Using identification-robust methods, the authors estimate  and evaluate for Canada and the United States various  classes of inflation equations based on generalized  structural Calvo-type models. The models allow for  different forms of frictions and vary in their assumptions  regarding the type of price indexation adopted by firms.  Point and confidence-set parameter estimates are obtained  based on the inversion of identification-robust test  statistics. Focus is maintained on the structural aspect of  the model with formal imposition of the restrictions that  map the theoretical model into the econometric one. The  results show that there is some statistical merit to using  indexation-based Calvo-type models for inflation. However,  some identification difficulties are also uncovered with  considerable uncertainty associated with estimated  parameter values. In particular, we find that  implausibly-high frequency of price re-optimization values  cannot be ruled out from our identification-robust  confidence sets.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1513},
      doi = {https://doi.org/10.34989/swp-2009-7},
}