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.
Published in: _Journal of Economic Dynamics and Control_ (Vol. 9, No. 4, December 1985, pp. 363-404) https://doi.org/10.1016/0165-1889(85)90012-0.