A Method for Estimating the Timing Interval in a Linear Econometric Model, with an Application to Taylor’s Model of Staggered Contracts

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Creator Series Issue number
  • 101
Date Created
  • 1985-12
Abstract
  • This paper describes and implements a procedure for estimating the timing interval in any linear econometric model. The procedure is applied to Taylor’s model of staggered contracts using annual averaged price and output data. The fit of the version of Taylor’s model with serially uncorrelated disturbances improves as the timing interval of the model is reduced.

Related information Corporate Author
  • Federal Reserve Bank of Minneapolis. Research Department
Publisher
  • Federal Reserve Bank of Minneapolis
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