dependence in the decisions of firms to raise, lower or leave their price constant. In addition, we seek to estimate the relative … importance of macroeconomic factors and firm-specific factors within state dependence. While price decreases can be well … explained by time dependence alone, price increases are best predicted by the interaction of time-dependent and firm …

We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German … producer price index. We find a strong degree of monetary non-neutrality. After expansionary monetary policy, the mass of … additional price adjustments is economically small and the average absolute size across all price changes falls. The aggregate …

uniform (national) pricing retail chains (UP). We decompose the price changes into the regular price, the frequency, and the … size of promotions. The sale price (i.e., the price paid by consumer purchasing on “sale”) increased by 7% within two weeks … and by 2.5% within three months. We then provide an heterogeneity analysis of the regular price variation across stores …

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … gains from price decreases of equal magnitude. Price changes are evaluated relative to an endogenous reference price, which …

We show that, to form aggregate inflation expectations, consumers rely on the price changes they face in their daily … lives while grocery shopping. Specifically, the frequency and size of price changes, rather than their expenditure share …. Our results suggest that the frequency and size of grocery-price changes to which consumers are personally exposed should …

price jump smaller than the size of the expiring tax reduction at the start of September. Our results are robust to …

This paper provides evidence on price rigidity at the product- and firm-level in Norway. A strong within … be larger than the benefit of responding to their competitors’ price changes. These findings have potentially important …

of our theoretical result. We find that resale price maintenance leads to larger upstream market definitions than linear …