We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining …

Sticky price models featuring heterogeneous firms and systematic firm-level productivity trends deliver radically …

heavily dependent on the characteristics of the price-setting firms. The reforms generated bimodal price-change distributions …-segment indicators. Instead, differences appear to arise because independent restaurants aim for (very) crude price ranges rather than …

evidence of linear and fixed menu costs that account for inaction of price adjustment. Convex menu costs are statistically … (incomplete) synchronization of price changes …

The Generalized Calvo and the Generalized Taylor model of price and wage-setting are, unlike the standard Calvo and … Taylor counter-parts, exactly consistent with the distribution of durations observed in the data. Using price and wage micro … systematic wage and price indexation …

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 … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

The price-setting behaviour of manufacturing plants is examined using a large panel of monthly surveyed plant- and … product-specific prices. The sample shows a high frequency of zero changes, relatively small price changes, and a strong … seasonal price-change pattern. The intermittent feature of price changes is modelled with thresholds which are smaller in …

Existing micro evidence of firms' price changes tends to show a downward sloping hazard rate – the longer the price of … a product has remained the same, the less likely it is that the price will change. Using a panel of Norwegian plant- and … suggests time-dependent price-setting by at least some of the producers. The spike after 12 months might be explained by …

concludes with an empirical application to consumer price inflation in Germany, France and Italy, and re-examines the extent to …