Data and Code for: Optimal Inflation Target in an Economy with Menu Costs and a Zero Lower Bound

Principal Investigator(s): View help for Principal Investigator(s) Andres Blanco, University of Michigan

Name	File Type	Size	Last Modified
Data			05/06/2020 09:06:AM
codes			05/06/2020 09:04:AM
CHANGELOG.txt	text/plain	708 bytes	06/30/2021 12:14:PM
Manifest.txt	text/plain	1.7 MB	06/30/2021 12:26:PM
README.pdf	application/pdf	102 KB	05/06/2020 05:03:AM

Project Citation:

Blanco, Andres. Data and Code for: Optimal Inflation Target in an Economy with Menu Costs and a Zero Lower Bound. Nashville, TN: American Economic Association [publisher], 2021. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-07-08. https://doi.org/10.3886/E118523V1

Project Description

Summary: These files contain the programs and data for the journal article "Optimal Inflation Target in an Economy with Menu Costs and a Zero Lower Bound," American Economic Journal: Macroeconomics.

Scope of Project

Subject Terms: macroeconomics; monetary policy

JEL Classification:
      E30 Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
      E50 Monetary Policy, Central Banking, and the Supply of Money and Credit: General
      E60 Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Geographic Coverage: United State and United Kingdom

Time Period(s): 1960 – 2017 (time period aggregate data: 1960-2017; Time period micro-level price data: 1996-2017)

Collection Date(s): 9/2018 – 9/2018

Universe: Aggregate data: United States. MIcro-price level data: United Kingdom outlets used for the construction of the CPI.

Data Type(s): administrative records data; aggregate data

Methodology

Data Source:

1- United Kingdom’s Office for National Statistics. 1996-2005. “CPI and RPI item indices and price quotes.” Retrieved from https: // webarchive. nationalarchives. gov. uk/ 20160109121317/ http: // www. ons. gov. uk/ ons/ rel/ cpi/ consumer-price-indices/ cpi-and-rpi-item-indices-and-price-quotes/ rpt-cpi---rpi-item-indices---price-quotes. html , September 24th, 2018.

2- United Kingdom’s Office for National Statistics. 2006-2017. “Con-
sumer price inflation item indices and price quotes.” Retrieved from https:
// www. ons. gov. uk/ economy/ inflationandpriceindices/ datasets/ consumerpriceindicescpiandretailpricesindexrpiitemindicesandpricequotes , September 24th, 2018.

3- U.S. Bureau of Economic Analysis. 1947-2017a. “Gross Domestic Prod- uct: Implicit Price Deflator [A191RI1Q225SBEA].” retrieved from FRED, Fed- eral Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/ A191RI1Q225SBEA , September 24th, 2018.

4- U.S. Bureau of Economic Analysis. 1947-2017b. “National In- come and Product Accounts: Table 1.1.5.” retrieved from https: // apps. bea. gov/ iTable/ iTable. cfm? reqid= 19\ &step= 3\ &isuri=

1\ &nipa_ table_ list= 5\ &categories= survey , September 24th, 2018.

5- U.S. Bureau of Labor Statistics. 1947-2017b. “Major Sector Productivity and Costs: Total Nonfarm Business, Hourly Compensation, Seasonally Adjusted- PRS85006103.” United States Department of Labor. Retrieved from BLS; http: // data. bls. gov/ cgi-bin/ srgate , September 24th, 2018.

6- U.S. Bureau of Labor Statistics. 1948-1976. “Major Sector Productivity and Costs: Total Nonfarm Business, Hourly Compensation, Seasonally Adjusted- LFU800000000.” United States Department of Labor. Retrieved from BLS; http: // data. bls. gov/ cgi-bin/ srgate , September 24th, 2018.

7- U.S. Bureau of Labor Statistics. 1976-2017a. “Major Sector Productivity and Costs: Total Nonfarm Business, Hourly Compensation, Seasonally Adjusted- LNS10000000.” United States Department of Labor. Retrieved from BLS; http: // data. bls. gov/ cgi-bin/ srgate , September 24th, 2018.

Unit(s) of Observation: prices quotes, Country aggregate data

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Published Versions

V1 [2021-07-08]

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