Buckle, Robert A.; Carlson, John A. - In: The Review of Economics and Statistics 82 (2000) 1, pp. 157-160
Using a unique micro data set, we find pervasive evidence of price asymmetry that is systematically related to inflation. An ordered probit model of pricing by manufacturing, building and merchandising firms shows that inflation: (i) increases the probability of a price increase in response to...