We estimate a multi-sector sticky-price model for the U.S. economy in which the degree of price stickiness is allowed to vary across sectors. For this purpose, we use a specification that allows us to extract information about the underlying cross-sectional distribution from aggregate data....

We estimate a multi-sector sticky-price model for the U.S. economy in which the degree of price stickiness is allowed to vary across sectors. For this purpose, we use a specification that allows us to extract information about the underlying cross-sectional distribution from aggregate data....

Carvalho et al. (2023) propose a theoretical framework that explains longrun inflation expectations' dynamic using short-run inflation surprises and beliefs about monetary policy. In an empirical exercise, they show that this concise framework predicts long-term inflation expectations well over...