Replication data for: The Real Effects of Monetary Shocks in Sticky Price Models: A Sufficient Statistic Approach

Fernando Alvarez, Francesco Lippi & Hervé Le Bihan
We prove that the ratio of kurtosis to the frequency of price changes is a sufficient statistic for the real effects of monetary shocks, measured by the cumulated output response following the shock. The sufficient statistic result holds in a large class of models which includes Taylor (1980); Calvo (1983); Reis (2006); Golosov and Lucas (2007); Nakamura and Steinsson (2010); Midrigan (2011); and Alvarez and Lippi (2014). Several models in this class are able to...
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